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Entries for discounted note payable Entries for discounted note payable A business issued a 6 0 - day note for $ 4 5 , 0

Entries for discounted note payable Entries for discounted note payable
A business issued a 60-day note for $45,000 to a bank. The note was discounted at 9%. Assume a 360 days in a year.
a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one
decimal place.
Notes Payable
b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
Notes Payable >
Cash
A business issued a 60-day note for $45,000 to a bank. The note was discounted at 9%. Assume a 360 days in a year.
Question Content Area
a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place.
blankAccountDebitCredit
Notes Payable
Question Content Area
b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
blankAccountDebitCredit
Notes Payable
Cash
45,000
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