Question: Entries for and Financial Statement Presentation of a Note Augustine Corporation borrowed $64,000 from the J.P. Morgan Chase Bank on June 1, 2023, on a

Entries for and Financial Statement Presentation of a Note Augustine Corporation borrowed $64,000 from the J.P. Morgan Chase Bank on June 1, 2023,

Entries for and Financial Statement Presentation of a Note Augustine Corporation borrowed $64,000 from the J.P. Morgan Chase Bank on June 1, 2023, on a 3-year, 8.7\% note. Interest is paid annually on May 31 . If required, round amounts to the nearest dollar. Record interest expense and payment of interest 4. Indicate how the note and associated interest would be presented in Augustine's December 31 , 2024 balance sheet. Augustine Corporation Balance Sheet (partial) December 31, 2024 Current liabilities: Long-term liabilities: leave it blank. 2026, May 31 Record interest expense and payment of interest 2026, May 31 Record repayment of note principal

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