Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on april 15, 2016 vermont inc. obtained a six mont

on April 15, 2016 Vermont Inc. obtained a six month working capital loan from its...

70.2K

Verified Solution

Question

Accounting

on April 15, 2016 Vermont Inc. obtained a six month working capital loan from its bank. The face amount of the note signed by the treasurer it was $196,000. The interest rate charged by the bank was 10% the bank made the loan on a discount basis.
calculate the loan proceeds made available to Vermont Inc.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

Write down the system of linear equations to find the probability that the rat finds...

Geometry
1.2K views

O 7 6 2 1 2 3 6 2 The graph above shows the base...

Statistics
1.2K views

A sample of 25 seniors from a large metropolitan area school district had a mean Math...

Basic Math
1.2K views

At Alice s Restaurant a Taco Plate has 2 tacos and 1 chile relleno and...

Basic Math
1.2K views

A study by researchers at a university addressed the question of whether the mean body...

Statistics
1.2K views

In a random sample of 950 individuals living in Honolulu 775 of them have had...

Algebra
1.2K views

A a da a b ve a b i lemlerinin modellemeleri verilmi tir a b...

Accounting
1.2K views

Answering the following question using this financial statement: https://www.sec.gov/Archives/edgar/data/80424/000008042415000070/fy141510-kreport.htm Debt: As of June 30, 2015,...

Accounting
1.2K views

true or false - Outstanding shares of stock are those which a corporation has the...

Accounting
1.2K views

Laurel has equipment costing $100,000 and with a FMV of $1,000,000 that is forming a...

Accounting
1.2K views

The following information pertains to Guys Gear Company: ...

Finance
1.2K views

USE EXCEL FUNCTION Suppose you borrowed $300,000 from the bank on a balloon loan,...