Consider the following note payable transactions of Collective Video Productions.
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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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.)