Ron Prentice bought goods from Shelly Katz. On April 16, Shelly gave Ron a time extension on
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Ron Prentice bought goods from Shelly Katz. On April 16, Shelly gave Ron a time extension on his bill by accepting a $3,0, 9%, 160-day note. On July 24, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.)
What proceeds does Shelly Katz receive? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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