Question: please help On March 1, LGE asks to extend its past-due $6,400 account payable to Tyson. Tyson agrees to accept $1,500 cash and a 180

please help

On March 1, LGE asks to extend its past-due $6,400 account payable to Tyson. Tyson agrees to accept $1,500 cash and a 180 -day, 8%, $4,900 note payable to replace the account payable. (Use 360 days a year.) (7) Prepare the March 1 entry for LGE. (2) Prepare the August 28 entry for LGE when it pays the note and interest to Tyson. Journal entry worksheet 2 Record LGE's entry to extend its past-due $6,400 account payable by paying cash of $1,500 and issuing a 180 -day, 8%,$4,900 note payable. Note: Enter debits before credits

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