June 19 journal entry
Issued a check to Turner Commercial Bank as payment in full for the 28,000 note payable that is due today. Interest on a note as of June 19 is $860. Interest on the note HAS NOT BEEN ACCRUED.© BrainMass Inc. brainmass.com June 3, 2020, 11:27 pm ad1c9bdddf
This solution illustrates how to record the payment of a note at maturity when interest is due but has not been accrued previously.