DillCo borrows $$200,000$ pm September $1,20$x$0,$ from First Bancorp. Monthly interest is $$1,200.$ The loan agreement requires DillCo to pay the interest every $6$ months. The first interest payment is due February $2820$X$1.$

A$)$ What adjusting entry must DillCo make on December $31,20$X$0$ to recognize the accrued interest. $($ANSWERED$)4800$

Please answer B

B$)$Explain the impact on the financial statements if this entry is not recorded.