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On August 31, 2018, Barb Thibeault borrowed $6,000 from Savings State Bank. Thibeault signed a...

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Accounting

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On August 31, 2018, Barb Thibeault borrowed $6,000 from Savings State Bank. Thibeault signed a note payable, promising to pay the bank principal plus interest on August 31, 2019. The interest rate on the note is 12%. The accounting year of Savings State Bank ends on June 30, 2019. Journalize Savings State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2019, the maturity date of the note. Journalize Savings State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2019, the maturity date of the note. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Prepare the journal entry for the issuance of the note receivable on August 31, 2018 Credit Date 2018 Aug 31 Journal Entry Accounts Note Receivable - Barb Thibeault Cash Debit 6,000 6,000 (b) Prepare the journal entry to record the accrual of interest at June 30, 2019. Journal Entry Accounts Debit Credit Date 2019 Jun 30

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