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Record the issuance of the note payable on march

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On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,400. In payment for the services, Whole Grain Bakery signs a 9% note requiring the payment of the face amount and interest to Terrell & Associates on September 1.

Required:

Problem 1: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1.

Reference no: EM132805534

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