Question: In this exercise, we will continue the accounting for Sensations Salon, Inc. Assume that on September 30, 2018, Sensations Salon, Inc., borrowed $6,500 from State

In this exercise, we will continue the accounting for Sensations Salon, Inc. Assume that on September 30, 2018, Sensations Salon, Inc., borrowed $6,500 from State Bank, signing a nine-month, 71∕2 percent note. The fiscal year end is December 31.

Requirement

Prepare the journal entries required on September 30, 2018, December 31, 2018, and June 30, 2019, to record the transactions related to the note. Round your answers to the nearest dollar.

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