2. On September 1, 2006, Rhett Associates borrowed $700,000 from Scarlett Credit Union and signed a 9% one-year note payable, all due at maturity, (a) The amount Rhett must pay on September 1, 2007, when the note matures is? (b) The interest expense Rhett will recognize on this note in 2007 is? (c) At December 31, 2006, Rhett Associates' liability to the credit union amounts to? (d) In the space below, give the adjusting entry made by Rhett Associates on December 31, 2006, with respect to this note: General Journal Date Description Debit Credit