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West County Bank agrees to lend Oriole Company $448000 on January 1. Oriole Company signs a $448000, 6%, 6-month note. The entry made by Oriole

West County Bank agrees to lend Oriole Company $448000 on January 1. Oriole Company signs a $448000, 6%, 6-month note. The entry made by Oriole Company on January 1 to record the proceeds and issuance of the note is

Cash 448000
Interest Expense 13440
Notes Payable 461440
Cash 448000
Interest Expense 13440
Notes Payable 448000
Interest Payable 13440
Cash 448000
Notes Payable 448000
Interest Expense 6720
Cash 441280
Notes Payable 448000

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