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Compute the total proceeds received

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Question - The note receivable account of Caimito, Inc. consisted of the following: A 60-day note of P10,000 dated May 15 with a 9% interest rate, discounted at the bank on June 8 at 12% 120-day note of P100,000 (face amount) dated October 1 with no stated interest rate and a. market rate of 9% interest, discounted a he bank on November 30 at 12%. This note was received from the sale of equipment. Compute the total proceeds received from discounting of notes receivable.

Reference no: EM133087823

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