Question: show your work. keep it short and simple. NO EXCEL Robinson's, an electrical supply company, sold $4,800 of equipment to Jim Coates Wiring, Inc. Coates

show your work. keep it short and simple. NO EXCEL
Robinson's, an electrical supply company, sold $4,800 of equipment to Jim Coates Wiring, Inc. Coates signed
a promissory note May 12 with 4.5% interest. The due date was August 10. Short of funds, Robinson's con-
tacted Capital One Bank on July 20; the bank agreed to take over the note at a 6.2% discount. What proceeds
will Robinson's receive? LU11-2(1)

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