A business issued a $180-$day, $8\%$ note for $$31,000$ to a creditor on account. Illustrate the effects on the accounts and financial statements of recording $($a$)$ the issuance of the note and $($b$)$ the payment of the note at maturity, including interest.

If no account or activity is affected, select $"$No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts.

a$.$ Illustrate the effects on the accounts and financial statements of recording the issuance of the note.

Statement of Cash Flows Balance Sheet Income Statement

Assets $=$ Liabilities $+$ Stockholders' Equity

$=$

$+$

$+$

fill in the blank $5$

fill in the blank $6$

fill in the blank $7$

fill in the blank $8$

Statement of Cash Flows Income Statement

fill in the blank $10$

fill in the blank $12$