To attract retailers to its shopping center, the Marketplace Mall will lend money to tenants under formal

Question:

To attract retailers to its shopping center, the Marketplace Mall will lend money to tenants under formal contracts, provided that they use it to renovate their store space. On November 1, 2014, the company loaned $ 100,000 to a new tenant on a one-year note with a stated annual interest rate of 9 percent. Interest is to be received by Marketplace Mall on April 30, 2015, and at on October 31, 2015.
Required:
Prepare journal entries that Marketplace Mall would record related to this note on the following dates:
(a) November 1, 2014;
(b) December 31, 2014 (Marketplace Mall’s fiscal year-end);
(c) April 30, 2015; and
(d) October 31, 2015.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...