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Gentry Wholesalers accepts from Windsor Stores a $7,450, 4-month, 12% note dated May 31 in settlement of Windsor's overdue account. The maturity date of
Gentry Wholesalers accepts from Windsor Stores a $7,450, 4-month, 12% note dated May 31 in settlement of Windsor's overdue account. The maturity date of the note is September 30. What entry does Gentry make at the maturity date, assuming Windsor pays the note and interest in full at that time? Date Account Titles and Explanation Sept. 30 Debit Credit
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At the maturity date of September 30 Gentry Wholesalers would make t...
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
