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On June 20, 2020, Ahmad, Inc. writes a 60-day, 12%, $40,000 note to settle an open account with .4 Astral Solutions. Assuming that Ahmad, Inc.

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On June 20, 2020, Ahmad, Inc. writes a 60-day, 12%, $40,000 note to settle an open account with .4 Astral Solutions. Assuming that Ahmad, Inc. pays the note in full on its due date, how much cash will Astral Solutions record on its statement of financial position, and on what date will the cash * ?be received (2 on August 19, 2011 $40.800 on June 20, 2020 $40.800 on August 15, 2011 542.800 on August 18, 2011 540,800

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