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A business issued a 90-day, 6% note for $80,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note

A business issued a 90-day, 6% note for $80,000 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. If an amount box does not require an entry, leave it blank. Assume a 360 days in a year.

.

Accounts PayableCashInterest ExpenseNotes PayableNotes ReceivableAccounts Payable

Accounts Payable Accounts Payable

Accounts PayableCashInterest ExpenseNotes PayableNotes ReceivableNotes Payable

Notes Payable Notes Payable
b.

Accounts PayableCashInterest RevenueNotes PayableNotes ReceivableNotes Payable

Notes Payable Notes Payable

Accounts PayableCashInterest ExpenseInterest RevenueNotes ReceivableInterest Expense

Interest Expense Interest Expense

Accounts PayableCashInterest ExpenseNotes PayableNotes ReceivableCash

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