On June 8, Williams Company issued an $91,200, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar. Oa. $10,032 Ob. $94,544 Oc. $101,232 Od. $91.200

On June 8, Williams Company issued an $91,200, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar. Oa. $10,032 Ob. $94,544 Oc. $101,232 Od. $91.200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

On June 8, Williams Company issued an $91,200, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value
of the note? Round your answer to the nearest whole dollar.
Oa. $10,032
Ob. $94,544
Oc. $101,232
Od. $91,200

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