Restore the file Boston Catering. Make the following adjustments and then print an income statement and balance sheet for the period 7/1/10 through 9/30/10 setting the columns to Month so that you view an income statement for July, August, and September 2010 and a balance sheet as of 7/31/10, 8/31/10, and 9/30/10.

a. Accrue interest expense (a new other expense type account) and the related accrued expense liability as of 7/31/10 and 8/31/10 based on the following schedules

b. Reverse accrued interest expense for the first two loans on 8/1/10 and 9/1/10 as appropriate. Do not reverse accrued interest expense on the \($10,000\) loan.

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Month Payment Interest Principal Balance $50,000.00 Jul 2010 $926.29 $416.67 $509.63 $49,490.37 Aug 2010 $926.29 $412.42 $513.87 $48,976.50 Sep 2010 $926.29 $408.14 $518.15 $48,458.35 Month Payment Interest Principal Balance $25,000.00 Jul 2010 $610.32 $166.67 $443.66 $24,556.34 Aug 2010 $610.32 $163.71 $446.61 $24,109.73 Sep 2010 $610.32 $160.73 $449.59 $23,660.14 Month Payment Interest Principal Balance $10,000.00 Jul 2010 Aug 2010 Sep 2010 $0 $50.00 $0 $10,000.00 $0 $50.00 $0 $10,000.00 $0 $50.00 $0 $10,000.00