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Question 3 (14 points) On March 31, 2020, Noodle Dog Food Ltd. loaned $250,000 on a two year, 4% note to Turkey Cat Food Corp.

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Question 3 (14 points) On March 31, 2020, Noodle Dog Food Ltd. loaned $250,000 on a two year, 4% note to Turkey Cat Food Corp. Turkey Cat Food Corp. will pay back $100,000 plus interest on March 31, 2021, with the remainder due on March 31, 2022. Noodle Dog Food's year end is Dec 31. Required Using the template below, prepare the journal entries for Noodle Dog Food Ltd. to recognize the note, interest accrual and payment of the note from Turkey Cat Food Corp. Explanations are not required. DATE ACCOUNT DEBIT CREDIT

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