On December 1, 2020, Express Inc. purchased a delivery truck from MJ Trucks, costing $354,000. However, due to cash flow problems, Express Inc. is currently unable to make the payment. Therefore, to assure MJ Trucks that it will be paid, Express Inc. signed a one-year note with 2% interest per annum, to be payable at maturity. Express Inc.'s year-end is on December 31. Prepare all the necessary journal entries related to the notes payable from the time it is signed to the maturity date.

Take me to the text On December 1, 2020, Express Inc. purchased a delivery truck from MJ Trucks, costing $354,000. However, due to cash flow problems, Express Inc. is currently unable to make the payment. Therefore, to assure MJ Trucks that it will be paid, Express Inc. signed a one-year note with 2% interest per annum, to be payable at maturity. Express Inc.'s year-end is on December 31. Prepare all the necessary journal entries related to the notes payable from the time it is signed to the maturity date. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole dollar. For transactions with more than one debit, enter the accounts in alphabetical order. Date Account Title and Explanation Debit Credit + To record the purchase of delivery truck + To record interest accrued To record the payment of note payable Dec 1 Dec 31 Nov 30 Check + +