On june 1 carla vista company purchased equipment on account from moleski manufacturers for $45,600.carla Vista is unable to payouts account on July 1 2024. So moleskin agrees to accept a three-month, 4% note payable from carla Vista. Interest is payable the first of each month, starting August 1, 2024. Carla Vista has an August 21 fiscal year end and adjusts it's account on an annual basis.