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What amount be reported as net proceeds from discounted

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Problem 1: On June 30, 2020, GHI Company discounted at the bank a customer P6,000,000, 6-month, 10% note receivable dated April 30,2020. The bank discounted the note at 12%. What amount should be reported as net proceeds from the discounted note receivable?

Reference no: EM132805821

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