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I need help joirnalizing these 2 things with explanations. There are 2 accounts and explanation boxes On August 1, Taylor Company lent S80 ,000 to

I need help joirnalizing these 2 things with explanations. There are 2 accounts and explanation boxes image text in transcribed
On August 1, Taylor Company lent S80 ,000 to L King on a 90-day, 5% note. 12. Journalize for Taylor Company the lending of the money on August 1 13. Journalize the collection of the principal and interest at maturity Specify the date. Round interest to the nearest dollar 12. Journalize for Taylor Company the lending of the money on August 1. (Record debits first. then, credits Select the expl entry table For notes stated in days, use a 365-day year) Date Accounts and Explanation Debit Credit Aug 1 13. Journalize the collection of the principal and interest at maturity Specify the date. Round interest to the nearest dollar

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