On July 1, 2018 Ciang May Co. issues a $500,000, 8 percent, nine-month, interest-bearing note to Central Asia Bank. On September 1, 2018, Ciang May Co. also issues a $550,000, four-month, zero-interest-bearing note to Micky Co. The present value of the note is $500,000. Ciang May Co. prepares financial statements each 31 December. Instructions: 1. Prepare journal entries to records issues interest-bearing note and zero-interest-bearing note. 2. Prepare adjusting entries. 3. Prepare journal entries to records maturity and payment interest