7. On September 1, 2023, Lowe Co, issued a note payable to National Bank in the amount of $1,500,000, bearing interest at 9%, and payable in three equal annual principal payments of $500,000. The first payment for interest and principal was made on September 1, 2024. Please record the following journal entries: p. 2023 adjusting entry q. The first payment r. 2024 adjusting entry

7. On September 1, 2023, Lowe Ca, issued a note payable to National Bank in the amount of $1,500,000, bearing interest at 9%, and payable in three equal annual principal payments of $500,000. The first payment for intereat and principal was made on September 1,2024. Please recond the following journal entries: P. 2023 adjusting entry q. The first payment r. 2024 adjusting entry