west county bank agrees to lend

West County Bank agrees to lend Cullumber Company $424000 on January 1. Cu Company on January 1 to record the proceeds and Issuance of the note is umber Company signs . u24000, 6%, 6 month rate. Th. ertry made by onnbr O cashs Payable. Notes Payable 424000 O Cash 424000 Interest Expense Notes Payable O Cash 424000 12720 Interest Expense 424000 Notes Payable Interest Payable O Interest Expense 417640 424000 Notes Payable Open Show Work Click if you would like to Show Work for this question: A Division of PrivBSY Policy 1 28