Question: Notes Payable On September 1, 2016. Hare Today pet-supply store Co. borrowed $9,000 from Gone Tomorrow Bank, signing a 6-month, 4-percent note. Interest is to

Notes Payable On September 1, 2016. Hare Today pet-supply store Co.

Notes Payable On September 1, 2016. Hare Today pet-supply store Co. borrowed $9,000 from Gone Tomorrow Bank, signing a 6-month, 4-percent note. Interest is to be paid at maturity. Hare Today and Gone Tomorrow both have a December 31 year-end. 1. Record the journal entry for the transaction for Gone Tomorrow on September 1, 2016. 2. Record the appropriate adjusting entry related to the note by Gone Tomorrow on December 31, 2016. 3. Record the journal entry for the payment of the amount due from Hare Today at the note's maturity on March 1, 2017 Date Account Name Debit Credit

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