Horizon telecom sold 300000 wor th of 120-day commercial


Question - Horizon Telecom sold $300,000 wor th of 120-day commercial paper for $298,000. What is the dollar amount of interest paid on the commercial paper? What is the effective 120-day rate on the paper?

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Accounting Basics: Horizon telecom sold 300000 wor th of 120-day commercial
Reference No:- TGS02589805

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