Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 8 - Reporting and Analyzing Receivables - Questions - Page 427: 10

Answer

Maturity date of the promissory note: The maturity date of a note payable is expressed in terms of months. it is stated as number of months from the date of issue.

Work Step by Step

For example, maturity date of a three months note dated 1st April is 1st July.
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