Metal Company
Metal Company sold merchandise to Steel Corporation on December 1, 2012, for $150,000, and accepted a promissory note for payment in the same amount. The note has a term of three months and an annual interest rate of 8%. Metal's accounting period ends on December 31.
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Refer to the data provided for Metal Company. What is the maturity date of the note?
A) December 31, 2012
B) January 31, 2013
C) February 28, 2013
D) March 31, 2013
Correct Answer:
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