tries for Notes Payable business issued a 120-day, 5% note for $90,000 to a ereditor on account. Journalize the entries to record (a) the issuance of the note and (b) the or a compound transaction, if an amount box does not require an entry, leave it blank Accounts Payable payment of the nete at maturty, including interest. Assume a 360 Notes Payable b Notes Payable Interest Expense Why is the company ssuing the note? What type of note is being issued (interest-bearing or discounted)? How much will the company owe on the maturity date? on the maluty e, the dettor mat repay the face vnount of re note, Ireerent outed by mit plying the rece amou" one the interest rate. Learning Obpective