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TD Bank lent $280,000 to Steve Stone on a 60-day, 4 percent note. Record following transactions for TD, rounding to the nearest dollar (explanations are

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TD Bank lent $280,000 to Steve Stone on a 60-day, 4 percent note. Record following transactions for TD, rounding to the nearest dollar (explanations are not required): a. Lending the money on May 6. b. Collecting the principal and interest at maturity. Specify the date. For the computation of interest, use a 365-day year. a. Record the lending of the loan on May 6. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit

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