Borrowed $360,000 form Lessburg Bank the six year 10% note requires payments due annually on March 1 each payment consists of $60,000 principal plus one year's interest

Borrowed $360,000 from Lessburg Bank The six year 10% note requires payments due annually on March 1 Each payment consists of $60,000 principal plus one years interest

And what is your attempt to record these transactions. A balance sheet is a report prepared from transactions already recorded