On July 8, Action Co. issued a $70,000, 6%, 120-day note payable to Scanlon Co. Assuming a 360-day year, what information is needed to calculate the maturity value of the note? a. The interest rate (6%) and the term (120 days) are needed to calculate the maturity value of the note. b. The face value of the note ($70,000) is needed to calculate the maturity value of the note. c. The face value ($70,000), interest rate (6%), and term (120 days) are needed to calculate the maturity value of the note. d. None of the information given is needed to calculate the maturity value of the note.
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