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On March 1, 2020. Jaiku Industrial gave Light Co. a 180-day, 8%, $78,000 note payable to extend a past due account payable. Prepare the journal

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On March 1, 2020. Jaiku Industrial gave Light Co. a 180-day, 8%, $78,000 note payable to extend a past due account payable. Prepare the journal entry for Jaiku Industrial to record payment of the note on August 28, 2020. Jaiku Industrial recorded a April 30 year end adjusting entry. Format BIU

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