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Discuss what is the due date of the note

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SE4-8A. Analyze notes receivable. (LO 5). On May 1, 2011, Bob's Music renegotiated its overdue account balance of $2,500 with Spectrum Electronics by signing a two-month promissory note at an interest rate of 5%. What is the principal amount of the note?

What is the due date of the note? How much will Bob's Music repay on the due date of the note?

Reference no: EM131756593

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