On June 8, Alton Co. issued an $80,000, 6%, 120-day note payable to Seller Co. What is the due date of the note?

Name: On June 8, Alton Co. issued an $80,000, 6%, 120-day note payable to Seller Co. What is the due date of the note?
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Quizplus · Accepted Answer

To find the due date of the note, we need to add the number of days in the term of the note to the issue date. 120 days after June 8 is October 6. Therefore, the due date of the note is October 6.