record the nine-month note with an interest rate of 8%?

record the payment of the note along with the accrued interest.

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E9-8 (Algo) Reporting Notes Payable and Calculating Interest Expense LO 9-3 North Face is one of the world's most popular outdoor apparel companies. Assume that North Face borrows $2.2 million from US. Bank and signs a note promising to pay back the $2.2 million in nine months, at which time North Face also will pay any accrued interest. The interest rate on the note is 8 percent. E9-8 (Algo) Reporting Notes Payable and Calculating Interest Expense LO 9-3 North Face is one of the world's most popular outdoor apparel companies. Assume that North Face borrows $2.2 million from US. Bank and signs a note promising to pay back the $2.2 million in nine months, at which time North Face also will pay any accrued interest. The interest rate on the note is 8 percent.