4. On August 31, 2024, Shocker borrowed $56,000 from a local bank. A note was signed...

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4. On August 31, 2024, Shocker borrowed $56,000 from a local bank. A note was signed with principal and 6% Interest to be paid on August 31, 2025. Required: Record the necessary adjusting entries for Shocker at December 31, 2024. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 4. On August 31, 2024, Shocker borrowed $56,000 from a local bank. A note was signed with principal and 6% Interest to be paid on August 31, 2025. Required: Record the necessary adjusting entries for Shocker at December 31, 2024. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)