18 A 90 day note receivable dated April 30 2013 would mature

18. A 90 day note receivable dated April 30, 2013, would mature on: A) August 1, 2013 B) July 30, 2013 July 31, 2013 July 29, 2013

Solution

Solution: Answer is D. July 29, 2013 Working Notes: 90 day notes receivable on April 30 would mature on = 90days - 31 days of May - 30 days of June - 29 days of July =90-31-30-29 =0 Hence, the 90 day Note would be matured on 29th July , 2013 Notes: Your computation of date is correct. Please feel free to ask if anything about above solution in comment section of the question.