Question: RGF Manufacturing recently signed a $200,000, 4-month note on June 22. The interest rate is 5%. Complete the following for the note and then record

RGF Manufacturing recently signed a $200,000, 4-month note on June 22. The interest rate is 5%. Complete the following for the note and then record the journal entries below:

Maturity Date:

Interest:

Maturity Value:

Journalize the issuance of the note for RGF and the Bank (Both sides, the receivable and payable)

RGF

Bank

Journalize the payment of this note on October 22 for RGF and the Bank (Both sides, the receivable and payable)

RGF

Bank

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