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How much was Bae proceeds from the discounted note

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Problem 1: On July 1, 2020, Bae Inc. sold equipment to Beau Inc. for $250,000. Bae Inc. accepted a 10% note receivable of the entire sales price. This note is payable in 2 equal installments of $125,000 plus accrued interest on December 31, 2020, and December 31, 2021. On July 1, 2021, Bae Inc. discounted the note at a bank at an interest rate of 12%. How much was Bae's proceeds from the discounted note?

Reference no: EM132791679

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