eBook Calculator Problem 9-92A (Algorithmic) Entries for and Financial Statement Presentation of a Note Perez Company borrowed $64,000 from the First National Bank on June 1, 2019, on a 3-year, 8.7% note. Interest is paid annually on May 31. If required, round amounts to the nearest dollar. Required: 1. Record the borrowing transaction in Perez's journal. 2019, June : Cash ny Notify Payable 64.000 Record issuance of note at par TO t. When bonds around any premium or discount is recorded in a separate valuation account 2. Prepare the adjusting entries made at December 31, 2019 and 2020. 2019, December 31 Interest Expense Interest Payable Record interest expense 2020, December 31 Interest Expense Previous Nect All work saved EIKTOR Submit Assignment for Grad Maps eBook Calculator 2. Prepare use ajuscung entries made at December 2019 and ZUZU. 2019, December 31 Interest Ense Interest Pay ble Record interest expense Interest Expense Interest Payable 2020, December 31 Record interest expense 3. Prepare the necessary journal entry to recognize the first interest payment on May 31, 2020. 2020. May 31 Interest Expense Interest Payable Cash Record interest expense and payment of interest 4. Indicate how the note and associated interest would be presented in Perez's December 31, 2020 balance sheet. Peret Company Balance Sheet (partial) December 31, 2020 Current liabilities: Interest payable Long term abilities: Check My Work more Choo My Woutesering Previous Ne All work saved Email restructor Save and Submit Assignment for BOOK Calculator POTEZE Balance Sheet (partial) December 31, 2020 Current liabilities: Interest payable Long-term abilities: Notes payable 1.7 due in 2022 5. Prepare the necessary joumal entries to record the payment of the note and the last year's interest on May 31, 2022 2022, May 31 Recorderspense and payment of interest 2002, C Boyer ofte principal more on the remontopolmon Previous Next Als Sai Sui Argent for Grading MacBook