What is the maturity value of the note ? General accounting On September 1, Eastern Inc. issued a $150,000, 6%, 180-day note payable to First Bank.Assuming a 360-day year for your calculations, what is the maturity value of the note?A. $154,500B. $150,000C. $159,000D. $4,500

Step 1: Formula Maturity value = Principal + InterestInterest = Principal x Rate x Time Step 2:…

Answered: On September 1, Eastern Inc. issued a…

College Accounting (Book Only): A Career Approach

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ISBN:9781337280570

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Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 2P

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On September 1, Eastern Inc. issued a $150,000, 6%, 180-day note payable to First Bank. Assuming a 360-day year for your calculations, what is the maturity value of the note? A. $154,500 B. $150,000 C. $159,000 D. $4,500