DE LA CRUZ company received a 10%, 180 day note from its customer on April...
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Accounting
DE LA CRUZ company received a 10%, 180 day note from its customer on April 1 2021. the note has a face value of P500,000. the company endorsed the note, without recourse, to a bank on May 31 2021. the bank discounted the note at 12%.
The debit to loss on discounting amounts at discount date amounted to?
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