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part a and b

A business issued a 45-day, 4% note for $240,000 to a creditor on account. Required: Joumalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest. Refer to the chart of accounts for the exact wording of the account titles. CNOW journais do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Chart of Acoounts ASSETS REVENUE 110 Cash 410 Sales. 111 Accounts Recelvable 610 Interest Revenue 112 Interest Recelvable 113 Notes Receivable EXPENSES 115 Merchandise Inventory 510 Cost of Merchandise Sold 116 Supplies 520 Salarles Expense 118 Prepaid insurance 524 Depreciation Expense-Buliding 120 Land 525. Delivery Expense 123 Buliding 526 Repairs Expense 124 Accumulated Depreciation-Bullding 529 Selling Expenses 125 Oflice Equipment 531 Rent Expense 126 Accumulated Depreciabon-Orice Equipment 532. Depreciation Expense-Omice Equipment 533 insurance Expense Chart of Accounts LIABILITTES 210 Aecounts Payable 534 Supplies Expense 213 interest Payable 535 Payroll Tax Expense. 536 Vacation Pay Expense 214. Notes Payabie 537 Pension Expense 215 Salaries Payable 538 Cash Short and Over 216 Social Security Tax Payable 539 Product Warranty Expense 217 Medicare Tax Payable 540 Damage Awards and Fines 218 Employees Federal income Tax Payabie 541 Miscelianeous Expenso 219 Employees State Income Tax Payable 710 Interest Expense 221 Relirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacasion Pay Rayabie 227 Unfundec Pension Liabiity 228 Product Warranty Payable Chart of Accounts 219 Employees State Income Tax Payable 710 interest Expense 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payabie 227 Untunded Pension Liability 228 Product Warranty Payable 229 EPA Fines Payable 230 Lligation Claims Payable EQUITY 310 Owner, Capital 311 Owner, Drawing crear anty when a ceade amount is entered