On September 16, 2013, a corporation sold to a bank, a customer's 18 percent, 60-day note, dated August 31, 2013, with a face amount of $3,000. The bank discounted the note at 15 percent. The cash received by the corporation was (assume 360 days per year):

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The Answer of On September 16, 2013, a corporation sold to a bank, a customer's 18 percent, 60-day note, dated August 31, 2013, with a face amount of $3,000. The bank discounted the note at 15 percent. The cash received by the corporation was (assume 360 days per year):

On September 16, 2013, a Corporation Sold to a Bank