A. Syarikat Rambutan is a small medium company located in Kuala Terengganu that produces Rambutan Syrup. The business has grown in a Gong Badak industrial area, and has a great idea for a new product called Jeruk Rambutan. Though ambitious with the idea, Syarikat Rambutan has no cash to develop their new product. Rather than giving up, Syarikat Rambutan borrows RM120,000 from Gergasi Bank on 1 August 2011 by signing a 6-month, 8%, interest-bearing note. To promote local fruits, Syarikat Rambutan publishes a monthly cooking magazine called Appetizer. Subscriptions to the magazine cost RM20 per year. During October 2011, Syarikat Rambutan sells 18,000 subscriptions beginning with the November issue (first issue). Syarikat Rambutan prepares quarterly financial statements and recognizes subscription revenue earned at the end of the quarter. The company uses the Unearned Subscriptions and Subscription Revenue accounts. As the accountant of Syarikat Rambutan, you are required to prepare the necessary entries associated with the note payable and unearned revenues account on the books of Syarikat Rambutan as follows. Required: (a) Prepare the entry on 1 August 2011 when the note payable was issued. (2 marks) (b) Prepare necessary adjusting entries for note payable on 30 September 2011 in order to prepare the third quarter financial statements. Assume no other interest accrual entries have been made. (2 72 marks) (c) Prepare the adjusting entries for note payable as at 31 December 2011 to accrue interest. (2 72 marks) (d) Prepare the entries to record payment of the note payable at maturity. (4 72 marks) (e) Prepare the entries in October for the receipt of the subscriptions for the magazine. (2 72 marks) ( Prepare the adjusting entries as at 31 December 2011, to record subscription revenue earned in December 2011. (2 72 marks) (g) Prepare the adjusting entries as at 31 March 2012, to record subscription revenue earned in the first quarter of 2012. (2 72 marks)