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Tamarisk Wholesalers accepts from Gates Stores a $13,200, 4-month, 12% note dated May 31 in settlement of Gates' overdue account. The maturity date of
Tamarisk Wholesalers accepts from Gates Stores a $13,200, 4-month, 12% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. What entry does Tamarisk 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To record collection of Gates note and interest) Debit Credit
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