On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note payable to cover its past due account payable. a. What
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On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note payable to cover its past due account payable. a. What
On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note payable to cover its past due account payable. a. What is the total amount of interest to be paid on this note?b. Prepare ABC Company's general journal entry to record the issuance of the note payablec. Prepare ABC Company's general journal entry to record the payment of the note onSeptember 29, 2021 (3 marks).