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Tamarisk, Inc borrows $63,000 from Carla Vista Co. on July 1, 2021 signing a 9%, one-year note payable. Interest is to be paid at maturity.

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Tamarisk, Inc borrows $63,000 from Carla Vista Co. on July 1, 2021 signing a 9%, one-year note payable. Interest is to be paid at maturity. Prepare journal entry for Tamarisk, Inc. to record the receipt of the proceeds of the note. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and entero for the amounts.) Account Titles and Explanation Debit Credit Date July 1, 2021 (Borrow cash and sign note payable.) July 1. 2021 Nov. 1. 2021 Dec 31, 2021 Feb. 1, 2022 Apr. 1. 2022 Borrows $51,000 from First National Bank by signing a nine-month, 8% note. Borrows $61,200 from Interprovincial Bank by signing a three-month, 6% note. Prepares annual year-end adjusting entries. Pays principal and interest to Interprovincial Bank. Pays principal and interest to First National Bank

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