On June 8, Smith Technologies issued a $75,000, 6%, 140-day note payable to Johnson Company. What is the due date of the note?
A) October 28
B) October 27
C) October 26
D) October 25

Question

Quizplus · Accepted Answer

To find the due date, we need to add the number of days in the note to the date it was issued.

June has 30 days, and adding 140 days will give us a total of 170 days.

Counting forward 170 days from June 8 gives us October 26 as the due date.

Therefore, the answer is choice C.

On June 8, Smith Technologies Issued a $75,000, 6%, 140-Day