On Dec. $15,$ Sheffield Company discounted at Sunshine Bank a $$8,700($maturity value$),132-$day note dated Sept. $10.$ Sunshine$$s 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.$)$

Answer rating: 100% (QA)

Answer Calculate the number of days between maturity and discount dates Discount date December 15th ... View the full answer