Question: Gentry Wholesalers accepts from Benton Stores a 6 200 4 month 9

Gentry Wholesalers accepts from Benton Stores a $6,200, 4-month, 9% note dated May 31 in settlement of Benton’s overdue account.
(a) What is the maturity date of the note?
(b) What is the entry made by Gentry at the maturity date, assuming Benton pays the note and interest in full at that time?


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  • CreatedJanuary 30, 2014
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