M9-4 Recording a Note Payable LO9-3 Wygant Corporation borrowed $250,000 on October 1 last year. The note carried a 14% interest rate with the principal and interest payable on May 1 this year. Prepare the journal entry to record the following descriptions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet Record the note on October 1. October Note: Enter debits before credits. Date General Journal Debit Credit October 01 AN II + Record entry Clear entry View general journal Journal entry worksheet