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What is the loss on note receivable discounting

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Reference no: EM133012623

On June 30, 2019, Basil Company discounted at the bank a customer's P6,000,000, 6-month, 10% note receivable dated April 30, 2019. The bank discounted the note at 12% without recourse.

Problem 1. What is the loss on note receivable discounting?

A. 252,000

B. 52,000

C. 152,000

D. 48,000

Reference no: EM133012623

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