Greener Pastures Corporation borrowed $1,550,000 on November 1, 2015. The note carried a 9 percent interest rate with the principal and interest payable on June 1, 2016.

(a) The note issued on November

(b) The interest accrual on December 31.

Indicate the effects of the amounts for the above transactions. (Enter any decreases to account balances with a minus sign. Do not round intermediate calculations.)

Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

Greener Pastures Corporation borrowed $1,550,000 on November 1, 2015. The note carried a 9 percent interest rate with the principal and interest payable on June 1, 2016. Record the borrowing of $1,550,000.

Greener Pastures Corporation borrowed $1,550,000 on November 1, 2015. The note carried a 9 percent interest rate with the principal and interest payable on June 1, 2016. Record the interest accrued on the notes