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Posted on Aug 11, 2024

On Nov. 2 , Sheffield Company discounted at Sunshine Bank a $ 5 , 7 6 0 ( maturity value ) , 1 2 9

On Nov.

2,

Sheffield Company discounted at Sunshine Bank a $

5, 760 (

maturity value

), 129 -

day note dated Aug.

15 .

Sunshine

s discount rate was

7 % . (

Use Days in a year table.

)

What proceeds did Sheffield Company receive?

(

Use

360

days a year. Do not round intermediate calculations.

)

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