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Bank of Costa Mesa agrees to lend the OCC Company $600,000 on January 1st. OCC Company signs a $600,000, 6%, 8-month note. The journal entry

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Bank of Costa Mesa agrees to lend the OCC Company $600,000 on January 1st. OCC Company signs a $600,000, 6%, 8-month note. The journal entry by Bank of Costa Mesa to record the issuance of the money would include a: Debit to Cash for $600,000 Credit to Cash for $624,000 Debit to Notes Receivable for $600,000 Credit to Notes Receivable for $600,000

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