Answered: The maturity value of a $348,000, 4%,…

The maturity value of a $348,000, 4%, 45-day note receivable dated July 3, assuming a 360-day year, is a.$349,740 b.$361,920 c.$348,000 d.$354,960

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 7MC: On January 1 a company issues a $75,000 bond that pays interest semi-annually. The first interest...

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Question

The maturity value of a $348,000, 4%, 45-day note receivable dated July 3, assuming a 360-day year, is

a.$349,740

b.$361,920

c.$348,000

d.$354,960

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