On December 31, 2023, Crane Link Corporation received a four-year, 6%, $668,000 bank loan. The terms provide for payment of the bank loan with semi-annual instalment payments of $95,161 principal and interest, starting on June 30. Crane has a March 31 year end and records adjusting entries annually.

Record the receipt of the bank loan on December 31, 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry isrequired, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)

Record any required adjusting entries at July 31. (The company records adjusting entries every month). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record the accrual of interest expense on March 31, 2024. If no entry isrequired,select "No Entry" for the account titles and enter 0 for the amounts. List debit entry

Record the first two instalment payments, on June 30, 2024, and December 31, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entriesin the order presented in the problem. If no entry isrequired,select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Round answersto 0 decimal places, e.g. 1,234.)