Jurassic Jumpers Co. (JJ Co.) offers bungee jumping for those looking for an extreme activity. JJ Co. prepares annual financial statements and has a December 31, 2017 year-end.
a. On April 1, 2017, JJ Co. took out a five-year, $500,000 bank loan with an interest rate of 3%. Interest expense is paid on the first day of each month.
b. On July 1, 2017, JJ Co. issued a two-year, $50,000 Note Receivable with an interest rate of 4%. Interest income will be collected on January 1 and July 1 of each year.
c. On December 15, 2017, JJ Co. took a university student club bungee jumping for $2,000. The student club was invoiced on January 1, 2018 and pays JJ Co. on January 15, 2018.

Required 

Record the adjusting journal entries at December 31, 2017.