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What credit to discount on notes receivable in general

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Problem 1: Banco de Oro has loaned P9,000 to Northern Star Company, using a 90-day non-interest-bearing note. The bank discounted the note at 7%. The credit to discount on Notes Receivable in the general journal will be in the amount of

A. P9,000.00.
B. P8,842.50.
C. P157.50.
D. P9,157.50.

Reference no: EM132736199

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