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5) On November 30, 2019, Jenkins Company loaned M. Lee 54,000 for one year at an annual interest rate of 4%. Prepare the entry that

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5) On November 30, 2019, Jenkins Company loaned M. Lee 54,000 for one year at an annual interest rate of 4%. Prepare the entry that Jenkins Company will make on November 30, 2019. (2 POINTS) 6) On November 1, 2018, Downtown Jewelers accepted a 3-month, 15% note for $6,000 in settlement of an overdue account receivable. The accounting period ends on December 31. Prepare the journal entry to record the accrued interest at the year end. (2 POINTS)

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