Revise your worksheet to reflect these updated assumptions and then answer the questions that follow.

Issue Date		July 1, Year 1
Maturity Date		April 1, Year 2
Principal		250,000
Rate		6	%

Required: 1. Use your spreadsheet to recalculate the amounts related to the note and then prepare the related journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entry worksheet 1 2 3 Prepare the journal entry to record the issuance of the note. Note: Enter debits before credits. General Journal Debit Credit Date July 01 Record entry Clear entry View general journal Journal entry worksheet