On December 31, 2020,NashCompany signed a $1,186,300note toCraneBank. The market interest rate at that time was12%. The stated interest rate on the note was10%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales,Nash's financial situation worsened. On December 31, 2022,CraneBank determined that it was probable that the company would pay back only $711,780of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,186,300loan.

Determine the amount of cashNashreceived from the loan on December 31, 2020