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On September 1, Marigold's Painting Service borrows $142000 from National Bank on a 3-month, $142000,6% note. The entry by Marigold's Painting Service to record payment

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On September 1, Marigold's Painting Service borrows $142000 from National Bank on a 3-month, $142000,6% note. The entry by Marigold's Painting Service to record payment of the note and accrued interest on January 1 is Notes Payable 142000 Interest Payable 2130 Cash 144130 Notes Payable 142000 Interest Payable 8520 Cash 150520

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