Quick answer of this accounting questions On March 15, Western Corp. issued a $95,000, 8%, 90-day note payable toMetro Bank. Assuming a 360-day year for your calculations, what is thematurity value of the note?A. $96,900B. $95,000C. $97,520D. $1,900

Step 1: Definition of Maturity ValueThe Maturity Value of a note is the amount that must be repaid…

Answered: On March 15, Western Corp. issued a…

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 March 15, Western Corp. issued a $95,000, 8%, 90-day note payable to Metro Bank. Assuming a 360-day year for your calculations, what is the maturity value of the note? A. $96,900 B. $95,000 C. $97,520 D. $1,900