Question 02 On September 1, A Star company borrows $80,000 from Cooke Bank. The note is...

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Question 02 On September 1, A Star company borrows $80,000 from Cooke Bank. The note is due in 6 months and has a stated interest rate of 9%. Assume Eagle Boats' year-end is December 31. Required: 1. Record the borrowing on September 1. 2. Record the necessary journal entry when the note matures on February 28 Date Sept. 1 Description Debit Credit Date Description Debit Credit Feb. 28 Question 02 On September 1, A Star company borrows $80,000 from Cooke Bank. The note is due in 6 months and has a stated interest rate of 9%. Assume Eagle Boats' year-end is December 31. Required: 1. Record the borrowing on September 1. 2. Record the necessary journal entry when the note matures on February 28 Date Sept. 1 Description Debit Credit Date Description Debit Credit Feb. 28