4.0 (5 Points)

A business issued a 120-day, 6% note for $10,000 to a creditor on account resulting in the Accounts Payable of the creditor being converted to a Notes Payable. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest.