Question: Entries for Notes Payable A business issued a 90-day, 5% note for $93,000 to a creditor on account. Journalize the entries to interest. Assume a

Entries for Notes Payable A business issued a 90-day, 5% note for $93,000 to a creditor on account. Journalize the entries to interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank record (a) the issuance of the note and (b) the par ent or the notat matrity ino o g Accounts Payable. 3,00] a Notes Payable 93,000v bNotes Payable93,000 Interest Expense11625 x [ Cash 104,625 X Feedback Check My Work Why is the company issuing the note? What type of note is being issued (interest-beaning or discounted)? How much will the company owe on On the maturity date, the debtor must repay the face amount of the note, plus interest. Interest is the matunity date? the interest rate t computed by multiplying the face amount times

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