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  3. a 60-day, 8% discounted note for $26,400 is receiv

A 60-day, 8% discounted note for $26,400 is received from a customer on account on...

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Question

Accounting

A 60-day, 8% discounted note for $26,400 is received from a customer on account on May 1. What are the proceeds from the note on May 1?

Select the correct answer.

$26,048

$26,400

$352

$26,752

Answer & Explanation Solved by verified expert
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