Ron Prentice bought goods from Shelly Katz. On May 13, Shelly gave Ron a time...
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Accounting
Ron Prentice bought goods from Shelly Katz. On May 13, Shelly gave Ron a time extension on his bill by accepting a $3,150, 8%, 160-day note. On Aug. 15, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.)
What proceeds does Shelly Katz receive?
Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.
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