Riche Bank agrees to lend $ 45,000 on August 1, 2019, if Brown Co. signs a $ 35,000, 10%,

five-month note maturing on January 1.

Prepare the Brown Co. entry on August 1st.

Riche Bank agreed, on August 1, 2019, to loan Brown Co. $ 35,000, if it signs a note due

5 months, at 10% interest. Prepare the entry for Brown Co., August 1, 2019, in your books.

Select the options that are required for the input.

Cash-debit 35,000 Cash-credit 35,000 O Note payable-debit 35,000 O Note payable-credit 35,000