Question

A 60-day, 6% note for $6,000, dated July 10, is received from a customer. When is the due date of the note? a) August 10 b) September 8 c) October 8 d) November 8

Answer 1

The due date of a 60-day note dated July 10th is September 8th because you add 60 days to July 10th which includes the rest of July, all of August, and 8 days of September.

The correct opiton is b.

Step-by-step explanation:

The due date of a 60-day note dated July 10th would be calculated by adding 60 days to July 10. Since September has only 30 days, you'll count 20 days in July, then the entire month of August which is 31 days, totaling 51 days, and then add the remaining 9 days to September.

Therefore, the correct due date would be September 8.

The correct opiton is b.