Quick answer of this accounting A 90-day, 8% note for $15,000, dated April 15, is received from acustomer on account. What is the maturity value of the note?a. $15,300b. $15,000c. $16,200d. $15,500

Step 1: Definition of Maturity ValueMaturity Value is the total amount due at the end of a loan or…

Answered: A 90-day, 8% note for $15,000, dated…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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A 90-day, 8% note for $15,000, dated April 15, is received from a customer on account. What is the maturity value of the note? a. $15,300 b. $15,000 c. $16,200 d. $15,500