What is the journal entry for this should be?
One of the client's investments is an interest-bearing debt instrument. Reference the Legal Agreements tab for the details about the interest accrual and book this period's entry.
FOR VALUE RECEIVED, SAMPLE INVESTMENT, a Delaware corporation (the "Company") promises to pay to _.Fund"I, L.P. ("Investor"), or Investor's registered assigns, in lawful money of the United States of America the principal sum of Two Hundred Thousand Dollars ($200,000.00), or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Convertible Promissory Note (this "Note") on the unpaid principal balance at a rate equal to five percent (5\%) per annum, computed on the basis 90 days per quarter and a year of 360 days. If a Change of Control (as defined below) or Equity Financing (as defined below) is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Equity Financing. This Note is one of the "Notes" issued pursuant to the Purchase Agreement (as defined below). Such Notes are referred to herein as the "Notes" and the Investors thereof are referred to herein as the "Investors." Capitalized terms used in Sections 1 through 7 hereof, but otherwise not defined therein, shall have the respective meanings ascribed to them in Section 8 hereof. FOR VALUE RECEIVED, SAMPLE INVESTMENT, a Delaware corporation (the "Company") promises to pay to _.Fund"I, L.P. ("Investor"), or Investor's registered assigns, in lawful money of the United States of America the principal sum of Two Hundred Thousand Dollars ($200,000.00), or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Convertible Promissory Note (this "Note") on the unpaid principal balance at a rate equal to five percent (5\%) per annum, computed on the basis 90 days per quarter and a year of 360 days. If a Change of Control (as defined below) or Equity Financing (as defined below) is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the signing of the definitive agreement for the Change of Control or Equity Financing. This Note is one of the "Notes" issued pursuant to the Purchase Agreement (as defined below). Such Notes are referred to herein as the "Notes" and the Investors thereof are referred to herein as the "Investors." Capitalized terms used in Sections 1 through 7 hereof, but otherwise not defined therein, shall have the respective meanings ascribed to them in Section 8 hereof
