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Part 3: Prepare Ergo's journal entry to record fringe benefits for the first month's payroll....

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Accounting

Part 3: Prepare Ergo's journal entry to record fringe benefits for the first month's payroll.
On September 1,2022, Hare Today pet-supply store Co. borrowed $9,000 from Gone Tomorrow Bank, signing a 6-month, 4-percent note. Interest is to be paid at maturity. Hare Today and Gone Tomorrow both have a December 31 year-end.
Record the journal entry for the transaction for Hare Today, the borrower, on September 1,2022.
Record the appropriate adjusting entry related to the note by Hare Today on December 31,2022.
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