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What is the actual maturity date of the note

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Reference no: EM132789929

Utah Co. sold merchandise to Big Sky Corp. on December 1, 2017, 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.

Poroblem 1: What is the actual maturity date of the note?

a. March 1, 2018

b. January 29, 2018

c. February 28, 2018

d. December 31, 2017

Reference no: EM132789929

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