posted by Eric on .
Hi guys, please help me solve this question. Please tell me how exectly should I solved this question. Thanks. On September 1, 2000, ABC Company received an 7000, 12%, 120 day note from a credit customer wishing to extend its repayment period. On october 1st, 2000, thirty days after the note was received, ABC discounted the note at the bank at 14%. How much cash did ABC company received from the bank?