On April $1,2024,$ Cullumber Ltd$.$ borrowed $$420,000$ for $20$ years. Principal repayments of $$21,000$ and interest at $6\%$ are due annually on March $31.$

$($a$)$

Prepare all of the journal entries required in relation to the loan for the year ended June $30,2024.($Record journal entries in the order presented in the problem. Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account tities and enter O for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit