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On October 1 , 2 0 2 0 , Crane Company issued an $ 8 4 2 0 0 0 , 1 2 % ,

On October 1,2020, Crane Company issued an $842000,12%,9-month interest-bearing note. Assuming interest was accrued on June
30,2021, the entry to record the payment of the note on July 1,2021, will include a:
debit to Notes Payable of $917780.
debit to Interest Expense of $25260.
credit to Cash of $842000.
debit to Interest Payable of $75780.
debit to Notes Payable of $917780.
debit to Interest Expense of $25260.
credit to Cash of $842000.
debit to Interest Payable of $75780.
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