Entries for Notes Payable A business issued a 90-day 5% note for $87,000 to a creditor an account, Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at matunty, induding interest. Assume a 360-day year If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar Accounts Payable a. Notes Payable b. Notes Payable Interest Expense Cash Feedback Chak My W Why is the company issuing the note? What type of note is being issued (interest- bearing or discounted)? How much will the company owe on the maturity date? On the maturity date, the debtor must repay the face amount of the note, plus interesti Interest is computed by multiplying the face amount with the interest rate and the time period