Question: Exercise 8-2 (Algo) Record notes payable (LO8-2) On November 1, 2024, Backpacking Training Corporation borrows $50,000 cash from Community Savings and Loan. Backpacking Training signs

Exercise 8-2 (Algo) Record notes payable (LO8-2)

On November 1, 2024, Backpacking Training Corporation borrows $50,000 cash from Community Savings and Loan. Backpacking Training signs a three-month, 6% note payable. Interest is payable at maturity. Backpackings year-end is December 31.

Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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