Mumford Co. borrowed a $100,000 note payable on June 1, Year 1, with 6% interest. The note is due on May 31, Year 2. Prepare the journal entry to record the issuance of the note and receipt of cash on June 1, Year 1. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity Prepare the adjusting journal entry to record the interest owed at the end of the accounting period on December 31, Year 1. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity Prepare the journal entries to record the interest and principal payments to the lender on May 31, Year 2. Debit and credit the accounts affected Ensure the equation still balances and debits = credits Assets Liabilities + Stockholders' Equity