Carla Vista Co. accepts from Gates Stores a $4,400, 4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. (a1) Your answer has been saved, See score details after the due date. Calculate the interest payable at maturity. (Round answer to 0 decimal places, eg. 5,275.) Interest payable at maturity %24 132 List of Accounts (a2) What entry does Carla Vista Co. 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. Round answers to 0 decimal places, e.g. 5,275.)

Carla Vista Co. accepts from Gates Stores a $4,400, 4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. (a1) Your answer has been saved, See score details after the due date. Calculate the interest payable at maturity. (Round answer to 0 decimal places, eg. 5,275.) Interest payable at maturity %24 132 List of Accounts (a2) What entry does Carla Vista Co. 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. Round answers to 0 decimal places, e.g. 5,275.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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