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Instructions Elsworth Enterprises borrowed $472,000 on an 6% interest-bearing note on September 30, 2020. Ellsworth ends its fiscal year on December 31. The note was
Instructions Elsworth Enterprises borrowed $472,000 on an 6% interest-bearing note on September 30, 2020. Ellsworth ends its fiscal year on December 31. The note was paid with Interest on March 31, 2021 Required: 1. Propare the entry for this note on September 30, 2020, 2. Prepare the adjusting entry for this note on December 31, 2020. 3. Indicato how the note and the accrued interest would appear on the balance shoot at December 31, 2020, 4. Propard the entry to record the ropayment of the note on March 31, 2021
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