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Exercise 5-16A Record notes payable and interest expense (LO5-7) On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent

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Exercise 5-16A Record notes payable and interest expense (LO5-7) On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $11,000. In payment for the services, Whole Grain Bakery signs a 9% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list > 1 Record the issuance of the note payable for the legal services received. 2 Record the payment of note payable and interest

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