The note's maturity value is $37,080 as of its due date of August 7.
The final payment for a loan, bond, or other financial product is due on the maturity date. Additionally, it specifies how long investors or lenders will wait before receiving interest payments.
The amount owed and due to be paid to the holder of a financial obligation as of the obligation's maturity date is its maturity value. The phrase typically refers to a loan's or bond's outstanding principal balance. Par value and maturity value are equivalent in the case of a securities.
Due Date = Date on Note + Tenure of Note
April 9 + 120 days = August 7
Maturity value;-
Note price + note price x coupon rate x term/360 days
= $36,000 + $36,000 x 9% x 120/360
= $37,080
Notes Receivable:- Debit 37,080
Cash:- Credit 36,000
Interest Income- Credit 720
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