Cost of goods sold reported on the income statement was $174,650. The accounts payable balance increased $5,430, and the inventory balance increased by $8,790 over the year. Determine the amount of cash paid for merchandise. On June 8, Williams Company issued an $83,547, 7%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $85,496 Ob. $83,547 Oc. $89,395 Od. $5,848 A bond is simply a form of an interest-bearing note. O True O False