Required information [The following information applies to the questions displayed below.] Greener Pastures Corporation borrowed $1,300,000 on November 1, 2018. The note carried a 12 percent interest rate with the principal and interest payable on June 1, 2019. (a) The note issued on November 1. (b) The interest accrual on December 31. 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Do not round intermediate calculations.) Assets Liabilities Stockholders' Equity Interest Expense (a) Cash 1,300,000 1,300,000 Notes Payable (short-term) Interest Payable (b) Journal entry worksheet Greener Pastures Corporation borrowed $1,300,000 on November 1, 2018. The note carried a 12 percent interest rate with the principal and interest payable on June 1, 2019. Record the borrowing of $1,300,000. Note: Enter debits before credits. General Journal Debit Credit Date November 01, 2018 Record entry Clear entry View general journal Journal entry worksheet Greener Pastures Corporation borrowed $1,300,000 on November 1, 2018. The note carried a 12 percent interest rate with the principal and interest payable on June 1, 2019. Record the interest accrued on the notes payable. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2018 Record entry Clear entry View general journal