Entries for notes payable

A business issued a 120-day, 10% note for $83,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360 days in a year.

If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar.

Entries for notes payable A business issued a 120 -day, 10% note for $83,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360 days in a year. If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar