(Answered) Nadeau wholesalers accepts from nicole stores a 6200

Accounting

Nadeau Wholesalers accepts from Nicole Stores a $6,200, 4-month, 12% note dated May 31 in settlement of Nicole's overdue account.

(a) What is the maturity date of the note?

(b) What is the entry made by Nadeau at the maturity date, assuming Nicole pays the note and interest in full at that time?

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Financial Accounting, Accounting

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