Live Media Co. borrowed $125,000 on May 1, 2021 from OneUnited Bank by signing a $125,000, 11%, 8-month note payable. Prepare Live Media Co.'s journal entries to: (1) record the proceeds of the note, (2) record accrued interest at December 31, 2021 and (3) record the payment of the note and interest at the note's maturity date of January 1, 2022.

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