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On September 1, 2021, Allied Moving Corp. borrows $110,000 cash from First National Bank. Allied signs a six-month, 5% note payable. Interest is payable at
On September 1, 2021, Allied Moving Corp. borrows $110,000 cash from First National Bank. Allied signs a six-month, 5% note payable. Interest is payable at maturity. Allied's year-end is December 31. 1., 2. & 3. Record the following transactions for the note payable by Allied Moving Corp. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations. Round your answers to nearest dollar amount.) View transaction list View journal entry worksheet General Journal Credit No 1 Date Sep 01, 2021 Debit 110,000 Cash Notes Payable 110,000 2 Dec 31, 2021 Interest Expense Interest Payable 3 Mar 01, 2022 110,000 Notes Payable Interest Payable Interest Expense Cash
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