Gentry Wholesalers accepts from Marigold Stores a $9,780, 4-month, 10% note dated May 31 in settlement of Marigold's overdue account. The maturity date of the note is September 30. What entry does Gentry make at the maturity date, assuming Marigold pays the note and interest in full at that time? Date Account Titles and Explanation Debit Credit Sept. 30 

Answer rating: 100% (QA)

To record the maturity of the note and the payment of both principal and interest by M... View the full answer