On June 8, Alton Co. issued an $81,780, 7%, 120- day note payable to seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? A. $83,688 B. $87,505 C. $81,780 D. $5,725

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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What is the maturity value of the note ?

On June 8, Alton Co. issued an $81,780, 7%, 120-
day note payable to seller Co. Assuming a 360-day
year for your calculations, what is the maturity
value of the note?
A. $83,688
B. $87,505
C. $81,780
D. $5,725
Transcribed Image Text:On June 8, Alton Co. issued an $81,780, 7%, 120- day note payable to seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? A. $83,688 B. $87,505 C. $81,780 D. $5,725
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