Question: Berkman Wholesalers accepts from Almonte Stores a 6 200 4 month 9
Berkman Wholesalers accepts from Almonte Stores a $6,200, 4-month, 9% note dated May 31 in settlement of Almonte’s overdue account. The maturity date of the note is September 30. What entry does Berkman make at the maturity date, assuming Almonte pays the note and interest in full at that time?
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