Pay off the 60,000 note payable owed to little bank. The cash to pay off the note is taken out of big bank. Also pay little bank $450 for interest owed on the note payable for February. The $450 cash is also taken out of big bank.

Is it

• Note payable Debit 60,000
• Big Bank credit 60,000
• Debit Note Payable $450
• Credit Big Bank 450

Answer rating: 100% (QA)

Assuming money taken out from Big Bank ... View the full answer