A RO 40000 Interest-bearing note payable is signed on December 26 2020. If the note is a 120-day note what is the maturity date for this short-term liability? a. March 26 b. March 25 c. April 26 d. April 25

A RO 40000 Interest-bearing note payable is signed on December 26 2020. If the note is a 120-day note what is the maturity date for this short-term liability? a. March 26 b. March 25 c. April 26 d. April 25

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

24-A RO 40000 Interest-bearing note payable is signed on December 26 2020. If the note is a 120-day note what is the maturity date for this short-term liability?

March 26

March 25

April 26

April 25

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