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Buffalo Company borrowed $32,400 on November 1, 2020, by signing a $32,400, 8%, 3-month note. Prepare Buffalos November 1, 2020, entry; the December 31, 2020,

Buffalo Company borrowed $32,400 on November 1, 2020, by signing a $32,400, 8%, 3-month note. Prepare Buffalos November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry.

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