1 2 Jesse Company adjusts its accounts monthly and closes its accounts on December 31. On October 31, year 1, Jesse Company signed a note payable and borrowed $177,000 from a bank for a period of six months at an annual interest rate of 6 percent. 3 4 Note payable and borrowed from a bank 5 Period of time 6 Annual interest rate 7 Months in year 8 9 Required: $177,000 6 months 6% 12 +

Jesse Company adjusts its accounts monthly and closes its accounts on December 31 . On October 31 , year 1 , Jesse Company signed a note payable and borrowed $177,000 from a bank for a period of vir months at an annual interest rate of 6 peirent. Jesse Company adjusts its accounts monthly and closes its accounts on December 31 . On October 31 , year 1 , Jesse Company signed a note payable and borrowed $177,000 from a bank for a period of vir months at an annual interest rate of 6 peirent