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Malloy company issued its own 10000 90-day

Question - Malloy Company issued its own $10,000, 90-day, non-interest-bearing note to a bank. The only payment Malloy will ever make to the bank will be for $10,000 at the maturity date of the loan as the bank discounts the note at 10 percent. What are the proceeds to the Malloy Company?

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Accounting Basics: Malloy company issued its own 10000 90-day

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Accounting Basics: Malloy company issued its own 10000 90-day

Reference No:- TGS02852362

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