Secure https/ewconnectinheducation.com/flow/connect.htmlYsReg true&returnUrlhttps%3A% F fconnect.mhed catoncom%2Fpaamweb%2Finde html%2 %25 registra Ch. 4-Exercises Help Save & Exit Subn Check my werk 2 aS Received (LO4-1, LO4-2, LO4-3, L04-4, LO4-5, LO4-6, LO4-7) 10 poinns The geological consulting firm of Gilbert, Marsh, & Kester prepares adjusting entries on a monthly basis. Among the items requiring adjustment on December 31, year 2, are the following 1. The company has outstanding a $65,000, 9 percent, 2-year note payable issued on July 1, year 1. Payment of the $65,000 note, plus all accrued interest for the 2-year loan period, is due in full on June 30, year 3 References2. The firm is providing consulting services to Texas Ol Company at an agreed-upon rate of $1,060 per day. At December 31, 10 days of unbilied consulting services have been provded a. Prepare the two adjusting entries required on December 31 to record the accrued interest expense and the accrued consulting revenue eamed b. Assume that the $65,000 note payable plus all accrued interest are paild in full on June 30, year 3 What portion of the total nterest c. Assume that on January 30, year 3, Gilbert. Marsh & Kester receve $25,000 from Texas Oil Company in full payment of the consulting services provided in December and January What portion of this amount constitutes revenue earned in January? Complete this question by entering your answers in the tabs below