Answer:
1) Due date of note = 120 days
2) Maturity value of note = $185,400
Explanation:
As per the data given in the question,
1) Due date of note:
August 31-10 =21 days
September 30 days
October 31 days
November 30 days
December 8 days
Total days 120 days
2) Maturity value of note = $180,000 + $180,000 × 0.09 × 120÷360
=$185,400
3) Dec-8 Cash A/c Dr. $185,400
To Note Receivable A/c $180,000
To Interest revenue A/c $5,400
( Being receipt of payment is recorded)
