a) Record blossom's entries related to the note on July 1 and October 1, 2021

b) Prepare adjusting journal entry for accrued interest on December 31, 2021

Question 14 Blossom Financial Services loaned Sharp Inc. $100,000 cash in exchange for a one-year, 6% rate on July 1, 2021. Interest is payable quarterly beginning on October 1, 2021. Blossom has a December 31 year end and records adjusting entries annually Your answer is correct Record Blossom's entries related to the note on July 1 and October 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If entry is required, select "No Entry" for the account tities and enter for the amounts Record journal entries in the order presented in the problem.) (6) Prepare the adjusting journal entry for accrued interest on December 31, 2021. (Credit account titles are automatically indeed when the amount is entered. De net indent manually. It no entry is required, select "No Entry for the account tities and enter for the amounts.) Date Account Tities and Explanation Dec. 31 Debit Credit (To accrue interest earned.)