Ricci Manufacturing, Inc. borrowed $$1,020,000$ by issuing a $5-$month note on October $1$ of the current year. The note is due on March $1$ of the following fiscal year. The short$-$term note carries a $4\%$ annual interest rate, with interest due at maturity. The company's fiscal year ends on December $31.$

Read the requirements.

Requirement a$.$ Prepare the journal entry to record the issuance of the note payable.

$\backslash$table$[[$Account$,,],[$Cash$,$October $1($current year$),],[$Long$-$Term Note Payable,$1,020,000,],[,,]]$

Requirement b$.$ Prepare the journal entry required at year$-$end to record the interest accrual. $($Round all amounts to the nearest whole dollar.$)$

$\backslash$table$[[$Account$,],[$Interest Expense,$],[$Interest Payable,$]]$

Requirement c$.$ Prepare the journal entry to record the payment of the note at maturity. $($Round all amounts to the nearest whole dollar.$)$

$\backslash$table$[[$Account$,$March $1($following year$)],[$Interest Expense,$],[$Interest Payable,$],[$Long$-$Term Note Payable,$]]$