On September 1, Linwell Corp. borrowed $70,000 from the Highland Bank for five months at 9%. Interest is due at maturity. The company's year-end is December 31, at which time any outstanding interest was accrued. The entry to record payment of the note and accrued interest on February 1, the due date, is:

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The Answer of On September 1, Linwell Corp. borrowed $70,000 from the Highland Bank for five months at 9%. Interest is due at maturity. The company's year-end is December 31, at which time any outstanding interest was accrued. The entry to record payment of the note and accrued interest on February 1, the due date, is: