Big joes trollies borrowed $ 1,040,000 on october 1, 2020. The note carried a 9 percent interest rate with the principal and interest payable on june 1, 2021. Big joes trollies has a calendar year-end, which means they create financial statements every december 31st

Write out the two journal entries for Big joes trollies for the following dates

A The note issuance on october 1 2020

B The interest Accrual on December 31, 2020