the first part to the question is answered but the second part refers to the first part.

On December 2, Mike's Bikes obtained a two-year bank loan in the amount of $20,000, Tran. 2. after signing a note payable. 20,000 2 Cash Notes Payable 20,000 Mike's Bikes received a $20,000 bank loan with annual interest of six percent (refer to tran Tran. 5 2, Chapter 2). The first annual interest payment is due November 30, 2020. Account Debit Credit