Consider the following note payable transactions of Collective Video Productions. 2017 Jun. 1 Purcha

Consider the following note payable transactions of Collective Video Productions.

2017
Jun. 1 Purchased equipment costing $10,000 by issuing a​ one-year, 66% note payable.

Dec.31 Accrued interest on the note payable.

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2018
Jun.1 Paid the note payable plus interest at maturity.

Journalize the transactions for the company. ​(Record debits​ first, then credits. Select the explanation on the last line of the journal entry​ table.)

 

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