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P2. On 10/1/2019, America Bank received a promissory note from its customer borrowing $250,000. Terms of the note were; principal of the note $250,000, 6%

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P2. On 10/1/2019, America Bank received a promissory note from its customer borrowing $250,000. Terms of the note were; principal of the note $250,000, 6% interest and due on 12/31/2019 Instructions: Prepare any necessary journal entries for note transactions of America on 1) 10/1/2019. 2) 12/31/2019 assuming that the note maker pay the principal and interests on time

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