Nicole thinks that her business, Nicole's Getaway Spa $($NGS$),$ is doing really well and she is planning a large expansion. With such a large expansion, Nicole will need to finance some of it using debt. She signed a one$-$year note for $$46,000,$ payable to the bank with a $7$ percent interest rate. The note was issued October $1,2020,$ interest is payable semi$-$annually, and the end of Nicole's accounting period is December $31.$

Required:

Prepare the journal entries required from the issuance of the note until its maturity on September $30,2021,$ assuming that no entries are made other than at the end of the accounting period, when interest is payable and when the note reaches its maturity. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

$(1)$ Record the issuance of Note. Record the transaction.

Record the interest for the note. Record the transaction.

$3$ Record the payment of interest for the note semiannually. Record the transaction.

$4$ Record the interest for the note. Record the transaction.

$5$ Record the cash payment on maturity of the note. Record the transaction.

Credit

$46,000$