8, when purchasing equipment, Bed Threads Inc. issued a 15%, 120-day note payable on March 1, 2015 The purchased equipment cost $6,525. Prepare the journal entry to record the following: a. Issuance of the note b. Payment of the note and any interest owed (round interest to the nearest whole dollar) 9. On August 1, 2015, School Tools received $3,500 in cash from the bank in exchange for a 14%, 60-day note payable. Prepare the journal entry to record the following a. Issuance of the note b. Payment of the note and any interest owed (round interest to the nearest whole dollar) 10. Mountain Time borrowed cash from its local bank by issuing a 90-day note with a $3,500 face amount. The note is discounted at 6% and issued on June 1, 2015. a. Determine the proceeds of the note (round interest to the nearest whole dollar). b) b. Prepare the journal entry to record the issuance of the