Question

Moss County Bank agrees to lend Stan Brick Company $500,000 on January 1. Stan Brick Company...

Moss County Bank agrees to lend Stan Brick Company $500,000 on January 1. Stan Brick Company signs a $500,000, 6%, 9-month note. Stan Brick Company has a June 30th year end. Prepare the journal entries for the:

a)issuance of the note

b)adjusting entry

c)repayment of note

Thanks for the help.

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