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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 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 $42,000, payable to the bank with a 7 percent interest rate. The note was issued October 1, 2017, interest is payable semi-annually, and the end of Nicole's accounting period is December 31. oints Required: 1. Prepare the journal entries required from the issuance of the note until its maturity on September 30, 2018, 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.) eBook Print View transaction list References X 1 Record the issuance of Note. 2 Record the interest for the note. 3 Record the payment of interest for the note semi- annually. 4 Record the interest for the note. Credit 5 Record the cash payment on maturity of the
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