Question: On June Sandhill Co. Ltd. borrows $ 76,000 from Acme Bank on a 6-month, $ 76,000, 6% note. The note matures on Your answer is

 On June Sandhill Co. Ltd. borrows $ 76,000 from Acme Bank

On June Sandhill Co. Ltd. borrows $ 76,000 from Acme Bank on a 6-month, $ 76,000, 6% note. The note matures on Your answer is correct Prepare the entry on June 1. (Credit account tities are automatlcally Indented when amount is entered. Donot Indent manually. Date Account Titles and Explanation June 1 Cash Debit Credit 76000 Notes Payable 76000 List of Accounts -Your answer is partially correct. Prepare the adjustingentry on June 30. (Credit account tities are automatlcally Indented when amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit June 30 Interest Expense 2280 Interest Payable 2280 List of Accounts eTextbook and Media Your answer is correct Prepare the entry at maturity December 1), assuming monthly adjusting entries have been made through November 30. Credit account titles are automaticalily Indented when amount Is entered. Do not Indent manually. Date Account Titles and Explanation Dec. 1 Notes Payable Debit Credit 76000 Interest Payable 2,280 Cash 78280

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