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Show full Work Problem 3 (10 Points) Journey Company had the following transactions involving notes payable September 1, 2021 Borrows $240.000 from Washington State Bank

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Problem 3 (10 Points) Journey Company had the following transactions involving notes payable September 1, 2021 Borrows $240.000 from Washington State Bank by signing a 6-month, 5% note Dec 31, 2021 prepares the adjusting entry March 1, 2022 Pays principal and interest to Washington State Bank Instructions Indicate the accounts and their respective balances that are increased and/or decreased for each of the above transactions

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