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Crane Company accepts from Gates stores a $9,800 Crane Company accepts...

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Accounting

Crane Company accepts from Gates stores a $9,800
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Crane Company accepts from Gates Stores a $9,800, 4-month, 10% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. Calculate the interest payable at maturity. (Round answer to 0 decimal places, eg. 5,275.) Interest payable at maturity $ e Textbook and Media List of Accounts What entry does Crane Company make at the maturity date, assuming Gates pays the note and interest in full at that time? (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit

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