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help Cullumber Company accepts from Gates Stores a $4,800, 4-month, 10% note dated May 31 in settlement of Gates overdue account. The maturity date of
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Cullumber Company accepts from Gates Stores a $4,800, 4-month, 10% 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 $ 160.00 What entry does Cullumber 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) Account Titles and Explanation Debit Credit Step by Step Solution
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