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How much is the loss on discounting

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Question - On November 1,2020, Gusion Co. discounted with recourse at 10% a one-year, noninterest bearing P41,000 note receivable maturing on January 1,2021. What amount of contingent liability for this note must Gusion disclose in its 2020 financial statements?

What amount of cash did Franco Received from the bank? How much were the proceeds?

Franco Inc. received from a customer a one-year P1,000,000 note bearing annual interest of 8%. After holding the note for six months, Franco discounted the note at Lylia Bank at an effective rate of 10%. How much is the loss on discounting?

On December 1,2020, Hanabi Company received a P100,000 60-day, 6% note from a customer. On December 31, 2020, the company discounted the note at the bank. The bank's discount rate was 9%. How much was the loss on discounting?

Reference no: EM132984646

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