interest Expense on Note Payable

SE$2.$ On the last day of August, Broadway Company borrowed $$120,000$ on a bank note for $60$ days at $10\%$ interest. Assume that interest is stated separately. Prepare the following journal entries: $(1)$ August $31,$ recording of note; and $(2)$ October $30,$ payment of note plus interest. $($Round to the nearest cent$)$