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On November 15, 2001 Garden Company agreed to accept $500 in cash and a $2,000, 90- day 8% note from Agro Company to settle their
On November 15, 2001 Garden Company agreed to accept $500 in cash and a $2,000, 90- day 8% note from Agro Company to settle their $2,500 past-due account. Determine the maturity date and record the entry on November 15, December 31 and on the date of maturity.
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