Question $28$

$10$ pts

On August $1,$ Charlotte's Cookies signed a $$100,000,100-$day, $10\%$ note payable to cover a past due account payable. Charlotte's year$-$end is September $30.$

Show your calculations for credit.

Prepare Charlotte's journal entry to record the issuance of the note payable on August $1.$

Prepare Charlotte's adjusting journal entry at the end of the year, September $30.$

Prepare Charlotte's journal entry to record the payment of the note on November $9$ of the following year.