Sandhill Wholesalers accepts from Gates Stores a $6,400,4-month, 6% note dated May 31 in settlement...
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Sandhill Wholesalers accepts from Gates Stores a $6,400,4-month, 6% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30 . (a1) Your answer is correct. Calculate the interest payable at maturity. Interest payable at maturity What entry does Sandhill make at the maturity date, assuming Gates pays the note and interest in full at that time? (List all debit entries before credit entries, Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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