Question

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?

Answer 1

We need to identify the due date such as the solution is shown below:
June 8 we have 6/30 days which is equal to 22 days
July we have 31 days
August we have 31 days
September is 30 days
Then, we have 22 + 31 + 31 + 30 and the total is 114 days plus 6 days (si).
Therefore, the answer is 120 days.