Utah Co.sold merchandise to Big Sky Corp.on December 1, 2016, for $9,000, and accepted a promissory note for payment in the same amount.The note has a term of 90 days and a stated interest rate of 8%.Utah's accounting period ends on December 31. What is the actual maturity date of the note?
A) December 31, 2016
B) January 29, 2017
C) February 28, 2017
D) March 1, 2017
Correct Answer:
Verified
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