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Find what entry does blossom make at the maturity date

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Reference no: EM132720262

Blossom Wholesalers accepts from Gates Stores a $10,800, 4-month, 12% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30.

Problem 1: What entry does Blossom make at the maturity date, assuming Gates pays the note and interest in full at that time?

Reference no: EM132720262

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