RESOURCES Question 13 On June 1, Merando borrows $81,000 from First Bank on a six-month, $81,000, 6% note. Your answer is correct. Prepare the entry on June 1. (Credit account titles are automatically indented when the amount is entered. Do not indent account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit June 1 Cash 81000 81000 Notes Payable (Borrowed cash and signed a note.) (b) Your answer is correct. Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when the am Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit June 30 interest Expense 405 405 Interest Payable (Accrued interest expense.) SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (C entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for Date Account Titles and Explanation Sebit Credit Dec. 1 (Paid note and interest owing.)