Problem
On September 15, Sports World accepted n $75.000, 12% 60-day note dated 9/15/15 and related to a sale transaction to a loyal customer.
1. Prepare Sports World's journal entry to record the receipt of the note receivable.
2. Prepare Sports World's journal entry to record the receipt of cash for the note at maturity.
3. What is the maturity date of the note?