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On Sept. 10, Sheffield Company discounted at Sunshine Bank a $9,300 (maturity value), 121-day note dated June 5. Sunshines discount rate was 10%. (Use Days
On Sept. 10, Sheffield Company discounted at Sunshine Bank a $9,300 (maturity value), 121-day note dated June 5. Sunshines discount rate was 10%. (Use Days in a year table.)
What proceeds did Sheffield Company receive? (Use 360 days a year. Do not round intermediate calculations.)
Proceeds received $
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