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27 q. I need answer ASAP! Taylor Bank...

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Accounting

27 q.

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I need answer ASAP!

Taylor Bank lends Guarantee Company $119,324 on January 1. Guarantee Company signs a $119,324, 10%, 9-month, Interest-bearing note: The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is Oa. Notes Payable 119,324 4,475 Interest Payable Cash 119,324 4,475 Interest Expense Ob. cash 119.324 Notes Payable 119,3 24 O.C. Cash 128,273 8.949 119,824 Interest Expense Notes Payable Od. Interest Expense Cash Notes Payable 8.949 110,375 119,824

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