Question
Sandhill Co. accepts from Gates Stores a $6,500, 4-month, 6% note dated May 31 in settlement of Gates overdue account. The maturity date of the
Sandhill Co. accepts from Gates Stores a $6,500, 4-month, 6% 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, e.g. 5,275.)
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
