Question: Question 7 Mildew Company borrowed $ 7 5 , 0 0 0 on an 8 % interest - bearing note payable on March 1 ,

Question 7
Mildew Company borrowed $75,000 on an 8% interest-bearing note payable on March 1,2023. The maturity date of the note (and payment of all interest) is September 1,2024. The accounting period ends December 31. Give the journal entry for each of the following dates. Assume simple interest. Round to the nearest dollar.
A. March 1,2023
B. December 31,2023
C. September 1,2024
Question 7 Mildew Company borrowed $75,000 on an 8% interest-bearing note

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