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Current Attempt in Progress On August 1, Marx Ltd. accepted a $26,800 note from Borges...

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Accounting

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Current Attempt in Progress On August 1, Marx Ltd. accepted a $26,800 note from Borges L td. in settlement of an account receivable. The note bears interest of 6\% and both principal and interest are due in two months, on October 1. Interest on the note was accrued on August 31 and on September 30. On October 1. Borges paid the note, including the accrued interest. Prepare the journal entries required to record the above transactions. (List all debit entries before credit entries. Credit account titles are outomoticallyindented when the amount is entered. Do not indent manually. If no entry is requined, select "No Entry" for the occount titles and enter ofor the cmounts. Record enitries in the order displayed in the problem statement.)

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