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Question 34 (Mandatory) (6.25 points) Watauga County Bank agrees to lend Farm Caf $500,000 on January 1, 2021. Farm Caf signs a $500,000, 6%, 9-month

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Question 34 (Mandatory) (6.25 points) Watauga County Bank agrees to lend Farm Caf $500,000 on January 1, 2021. Farm Caf signs a $500,000, 6%, 9-month note. Use the following tabular analysis to record the proceeds and issuance of the note by Farm Cafe: Skoder Panda Com Pay Increase to Interest Expense for $22,500, increase to Cash for $477,500, and an Increase to Notes Payable for $500,000. Increase to Cash and to Notes Payable for $500,000. Increase to Cash for $500,000, increase to interest Expense for $22,500, and an increase to Accounts Payable for $522,500. Increase to Cash for $500,000, increase to Interest Expense for $22,500, increase to Notes Payable for $500,000, and an increase to interest Payable for $22,500

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