On June 8, Williams Company issued an $80,400, 7%, 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. $5,628 Ob. $82,276 Oc. $80,400 Od. $86,028

On June 8, Williams Company issued an $80,400, 7%, 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. $5,628 Ob. $82,276 Oc. $80,400 Od. $86,028

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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Question

On June 8, Williams Company issued an $80,400, 7%, 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. $5,628
Ob. $82,276
Oc. $80,400
Od. $86,028

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