Please provide correct answer accounting question On June 8, Alton Co. issued a dollar 90,000, 6 percent,120-day note payable to Seller Co. Assuming a 360-day year for your calculation, what is the maturityvalue of the note?a. 91,800 dollarb. 95,400 dollarc. 90,450 dollard. 90,000 dollar

Step 1: Define Maturity Value of a NoteA note payable represents a written promise issued by the…

Answered: On June 8, Alton Co. issued a dollar…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 2P

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On June 8, Alton Co. issued a dollar 90,000, 6 percent, 120-day note payable to Seller Co. Assuming a 360- day year for your calculation, what is the maturity value of the note? a. 91,800 dollar b. 95,400 dollar c. 90,450 dollar d. 90,000 dollar