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Tamarisk, Inc. issued a $70,000,4-year, 10% note at face value to Flint Hills Bank on...

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Accounting

Tamarisk, Inc. issued a $70,000,4-year, 10% note at face value to Flint Hills Bank on January 1,2025,
and received $70,000 cash. The note requires annual interest payments each December 31.
Prepare Tamarisk's journal entries to record (a) the issuance of the note and (b) the December 31
interest payment. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.
Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all
debit entries before credit entries.)
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