Wygant Corporation borrowed $260,000 on October 1 last year. The note carried a 9% interest rate with the principal and interest payable on May 1 this year.

Prepare the journal entry to record the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet Record the note on October 1. Note: Enter debits before credits. Date General Journal Debit Credit October 01 Record entry Clear entry View general Journal Journal entry worksheet