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Problem 2 (8.5 points) Assume that on October 3, 2020, Walmart, Inc., borrowed $3,200,000 cash from Bank of America to meet short-term obligations. Walmart signed
Problem 2 (8.5 points) Assume that on October 3, 2020, Walmart, Inc., borrowed $3,200,000 cash from Bank of America to meet short-term obligations. Walmart signed a 3% note and promised to repay the note in 120 days. All interest will be paid when the note is due. Use 360-day year and round your answer to the nearest dollar. Required: 1. Find the maturity date of the note. Maturity date is: 2. Record the issuance of the note on October 3. 3. Record payment of the note and interest at maturity. Account Title Debit Credit
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