journal entry

1) issuance of note on july 1 year 1.

2)the adjustment for accrued interest at the end of the year, december 31, year 1.

3) recording interest expense for yesr 2

4) record repayment of loan (principal) on june 30, year 2.

Harden Co. issued a $51,000 face value discount note to National Bank on July 1. Year 1. The note had a 4.00 percent discount rate and a one-year term to maturity. Required Prepare general Journal entries for the following transactions: (Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. The issuance of the note on July 1, Year 1. . b. The adjustment for accrued interest at the end of the year, December 31, Year 1. c. Recording interest expense for Year 2 and repaying the principal on June 30, Year 2. View transaction list Journal entry worksheet