A business issued a 90-day, 15% note for $91,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year.

If an amount box does not require an entry, leave it blank.

 

Accounts Payable 91,000 a. Notes Payable v 91,000 b Notes Payable y 91,000 b. Interest Expensev Cash