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What is the maturity date of the note

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

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

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

Reference no: EM131144285

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