Isaiah Company converted a $4,000 account receivable from Mark to a 75-day, 8% note receivable. The maturity value (assume a 360-day year) that will be due from Mark in 75 days (round to nearest dollar) is:
A) $4,000.
B) $4,067.
C) $4,320.
D) $4,077.
E) some other number.
Correct Answer:
Verified
Q54: A 135-day note issued on May 17
Q55: Assume that at December 31, 2013, Sophie
Q57: When counting the days of a note,
Q59: Accounts receivable may be reported "net of
Q61: If a company has 90-day credit terms,
Q62: Mike Company has cash of $56,000; net
Q63: On April 9, Joe paid $3,568 to
Q103: The maturity value is the sum of
Q104: A promissory note is a verbal promise
Q112: The amount loaned out by the payee
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents