On September 1, 2018 Jackson Inc. borrowed $24,000,000 cash at 9%.

All interest is payable at maturity.

Jackson Inc.'s fiscal period is the calendar year.

Assume the note will mature on September 1, 2019.

Required-

A. Prepare the journal entry for the issuance of the note.

Account	Debit	Credit

B. Prepare the appropriate adjusting entry for the note on December 31, 2018.

Account	Debit	Credit

C. Prepare the journal entry for the payment of the note at maturity.

Account	Debit	Credit