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. 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
C
You might also like to view...
Marketing plans are constructed at:
A) corporate and group planning. B) SBU planning. C) annual marketing planning. D) monthly planning.
Values, morals, and beliefs are all part of one's culture.
Answer the following statement true (T) or false (F)
Which planned shopping center type most commonly uses a mall layout with anchor stores at both ends?
a. string b. regional shopping center c. community shopping center d. neighborhood shopping center
Jane and Joan decide to open a plumbing business. Both contribute money to the business, but
because Jane has expertise in plumbing, she makes all the management decisions. Joan will not participate in any of the day-to-day operations. Jane and Joan will split net income equally. This enterprise is: A) A partnership. B) Not a partnership because they do not share management responsibilities. C) Not a partnership because they do not co-own the business. D) Not a partnership because they are not carrying on a trade or business. E) Not a partnership because there is no association of two or more people.