.../ 1 Question 5 of 10 View Policies Current Attempt in Progress On July 1, 2021, the Canada Bank lent $54,000 to Sheridan Limited. The 18-month loan bears interest at 5%. Prepare the journal entries to record each of the following on the Canada Bank's books: (a) Your answer has been saved. See score details after the due date. The issue of the bank loan on July 1, 2021. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Notes Receivable Debit Date July 1, 2021 Credit 54000 (b) The accrual of interest at the Canada Bank's year end, December 31, 2021 and 2022, assuming adjusting entries are recorded annually and interest is collected at maturity. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Date Dec. 31, 2021 Dec. 31, 2022 eTextbook and Media List of Accounts Save for Later Last saved 31 minutes ago. Attempts: 0 of 1 used Submit