Cyprus Corp.received a 7%,six-month promissory note with a face amount of $8,000 from Mustafa Company for the sale of merchandise on May 1,2017.Cyprus' accounting year-end is December 31.

Required
Identify the maturity date of the note.

Question

Cyprus Corp.received a 7%,six-month promissory note with a face amount of $8,000 from Mustafa Company for the sale of merchandise on May 1,2017.Cyprus' accounting year-end is December 31.

Required
Identify the maturity date of the note.

Quizplus · Accepted Answer

The Answer of Cyprus Corp.received a 7%,six-month promissory note with a face amount of $8,000 from Mustafa Company for the sale of merchandise on May 1,2017.Cyprus' accounting year-end is December 31.

Required
Identify the maturity date of the note.