Question 7 View Policies Current Attempt in Progress Kelly Jones and Tami Crawford borrowed $35,000 on a 7-month, 4note from Gem State Bank to open their business, JC's Coffee House. The money was borrowed on June 1, 2017, and the note matures January 1, 2018 Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit Date Account Titles and Explanation June 1 eTextbook and Media List of Accounts Prepare the entry to accrue the interest on line 30. (Cretit count Litles are automatically indeniled when amount is entered. Do noindent morally Debit Credit Date Account Titles and Explanation June 30 Textbook and Media List of Accounts Assuming adjusting entries are made at the end of each month, determine the balance in the interest payable account at December 31, 2017. Balance in interest payable acount $ Textboak and Media List of Accounts Prepare the entry required on January 1, 2018, when the loan is paid back. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit Date Jan. 1. 2018