For Questions $1)$ through $4)$ below, prepare adjusting journal entries for the current month, May $2024,$ using account names from T$-$accounts. Each question is worth $2$ points. $(8$ points$)$

$1)$ The $$20,000$ bank loan $($from Question $2)$ carries $6\%$ annual interest, payable semi$-$annually on June $30$ and December $31.$ The loan was taken out on May $16,2024.$

Half month interest expense should be accrued.

$2)$ The $$6,000$ equipment $($from Question $4)$ has $5-$year service life with no salvage value. The equipment was placed in service on May $16,2024,$ and straight$-$line depreciation is used for the equipment. Half month depreciation expense should be accrued.

$3)$ The insurance on the equipment was bought when the equipment was placed in service on May $16,2024.$ Half month insurance expense should be accrued.

$4)$ The company used about one third of supplies by the end of May.