On September $1,2024,$ Lindsey Engineering botrows $$400,000cmh.$ The loan is made by Firstlending, under the agreement that Lindsey will repay the grinclosil wh four pryments of $$100,000.$ Payments are due by October $1$ each year, whopel the firt poyment being due October $1,2025($next year$).$ interest on the borrowing is $6$ K $,$ and Lindsey's year$-$end is December $31.$

Required:

to $3.$ Record the necessary entries in the Joumal Entry Worksheet belom. pf no entry is required for a particular transactionlevent, select $"$No Journal Entry Required" in the first accoumt field.$)$

Journal entry worksheet

$1$

$2$

$3$

Pecord the long$-$term note payable by Lindsey Ingineering.

Note: Inter debits before credits.

$\backslash$table$[[$SNoDate$,$Account Titie,Debit,Crest$],[$September $01,2024,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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On September $1,2024,$ Lindsey Engineering borrows $$400,000$ cash. The loan is made by FirstLending. under the agreement that Lindsey will repay the principal with four payments of $$100,000.$ Payments are due by October $1$ esch yoor, with the first payment being due October $1,2025($next year$).$ Interest on the borrowing is $6\%,$ and Lindsey's year$-$end is December $31.$

Required:

to $3.$ Record the necessary entries in the Journal Entry Worksheet below. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

Record the adjusting entry for interest on December $31,2024.$

Nole: Eneer debits belore creshs.

$\backslash$table$[[$Dale$,$Oeneral Journa!,Debit,Credit$],[$December $31,2024,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

On September $1,2024,$ Lindsey Engineering borrows $$400,000$ cash. The loan is made by Firstlending, under the agreement that Lindsey will repay the princlpa$/$ weh four payments of $$100,000.$ Payments are due by October $1$ each year, whth the frut payment being due October $1,2025($next yerr$).$ Interesf on the borrowing is $6$ K $,$ and thidsey's year$-$end is December $31.$

Required:

to $3.$ Record the necessary entries in the Journal Entry Worksheet below. pf no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1,2$

$3$

Record the entry to reclassify the current portion of the note on December $31,2024.$

Note: Inter debits before eredits.

$\backslash$table$[[$Dut$,$General Journal,Detalt,Crest$],[$ December

$31\mathrm{.}2024,,,$Cran$],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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