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Basil Wholesalers accepts from Gates Stores a $6,000,4-month, 10% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note

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Basil Wholesalers accepts from Gates Stores a $6,000,4-month, 10% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. Chart of Accounts Assets Liabilities Stockholders' Equity. Cash Accounts Payable Common Stock Accounts Receivable Unearned Revenue Retained Earnings Notes Receivable Taxes Payable Sales Revenue Allowance for Doubtful Accounts Interest Payable Sales Returns and Allowances Notes Payable Sales Discounts Inventory Supplies Interest Revenue Prepaid Insurance Equipment Building Land Cost of Goods Sold Bad Debt Expense Interest Expense Insurance Expense Wages and Salaries Expense Accumulated Depreciation List debit transactions first and then list credit transactions. * Use accounts provided in the Chart of Accounts above. Do NOT create your own account. * When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. What entry does Basil make at the maturity date, assuming Gates pays the note and interest in full at that time? KIT What entry does Basil make at the maturity date, assuming Gates pays the note and interest in full at that time? Account Titles and Explanation Debit ($) Credit (5) Notes Receivable

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