Question: Short-term Notes Payable On Nov 1, 2024 American Express Borrowed 10 billion dollars from the Federal Reserve Bank at 4.5% interest for 9 months. Interest

Short-term Notes Payable On Nov 1, 2024 American Express Borrowed 10 billion dollars from the Federal Reserve Bank at 4.5% interest for 9 months. Interest was due at maturity. Journalize the entries on Nov 1, 2024 when the note was issued, Dec 31, 2024 for the interest accrual at the end of the year and finally Maturity on July 31st, 2025 Journal Entry Description/Account Debit Credit

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