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.

correct answer 130

What entry does Sandhill Co. make at the maturity date, assuming Gates pays the note and interest in full at that time?

Account Titles and Explanation	Debit	Credit
enter an account title to record the collection of Gates note and interest	enter a debit amount	enter a credit amount