Buffet wholesalers accepts from gates stores a 6200 4-month, Accounting Basics

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Buffet wholesalers accepts from gates stores a 6200 4-month

Question: Buffet Wholesalers accepts from Gates Stores a $6,200, 4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. What entry does Buffet make at the maturity date, assuming Gates pays the note and interest in full at that time?

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Accounting Basics: Buffet wholesalers accepts from gates stores a 6200 4-month

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Accounting Basics: Buffet wholesalers accepts from gates stores a 6200 4-month

Reference No:- TGS02624174

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