Question: I need help with the letter b part. Please indicate your full solution and correct answer. Thank you. Crane Hoadley and Angela Quayle borrowed $18,000

 I need help with the letter b part. Please indicate your

full solution and correct answer. Thank you. Crane Hoadley and Angela QuayleI need help with the letter b part. Please indicate your full solution and correct answer. Thank you.

Crane Hoadley and Angela Quayle borrowed \$18,000 on a 7-month, 9% bank loan from BMO Bank of Montreal to open their business, C A's Coffee House Inc. The money was borrowed on June 1, 2022, and the loan matures January 1,2023 . Interest is due at maturity. (a) Your answer is correct. Prepare the entry to record the bank loan. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Prepare the entry to accrue the interest on June 30. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, e.g. 5,275.)

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