On June 5 Glover Co.issued a $60,000,6%,120-day note payable to Jones Co.How much will Glover Co.have to pay at maturity?

Name: On June 5 Glover Co.issued a $60,000,6%,120-day note payable to Jones Co.How much will Glover Co.have to pay at maturity?
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The interest on the note is calculated as $60,000 * 6% * (120/360) = $1,200. Therefore, the total amount to be paid at maturity is $60,000 + $1,200 = $61,200.