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On October 1, Ayayai's Painting Service borrows $141000 from National Bank on a 3-month, $141000, 4% note. The entry by Ayayai's Painting Service to record

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On October 1, Ayayai's Painting Service borrows $141000 from National Bank on a 3-month, $141000, 4% note. The entry by Ayayai's Painting Service to record payment of the note and accrued interest on January 1 is O 141000 5640 146640 O 142410 142410 Notes Payable Interest Payable Cash Notes Payable Cash Notes Payable Interest Expense Cash Notes Payable Interest Payable Cash 141000 1410 142410 141000 1410 142410

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