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please help answering part b July 1,2021 entries For Atco Finance, record (1) the payment of the $250,000 cash and the receipt of the note

please help answering part b July 1,2021 entries image text in transcribed
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For Atco Finance, record (1) the payment of the $250,000 cash and the receipt of the note receivable on October 1, 2020; (2) the accrual of interest on December 31,2020; and (3) the collection of the note and interest on July 1, 2021. (Hint: Atco Finance uses a Notes Receivable account to record its loans) (Credit occount titles are outomatlcally indented when the amount is entered. Do not indent manually (ist all debit entries before credit entries) Bramble Construction Ltd. borrowed $250,000 from Atco Finance Ltd, on October 1,2020 , by issuing a nine-month note payable at 7% interest payable at maturity. Both companies have a December 31 year end and make adjusting entries annually. (a) For Bramble Construction, record (1) the receipt of the $250,000 cash and the issuing of the note payable on October 1, 2020; (2) the accrual of interest on December 31,2020; and (3) the payment of the note and interest on July 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

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