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On May 18, Sheffield Company discounted at Sunshine Bank a $9,000(maturity value),124-day note dated Feb....

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Accounting

On May 18, Sheffield Company discounted at Sunshine Bank a $9,000(maturity value),124-day note dated Feb. 15. Sunshines discount rate was 9%.(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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