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(b) Your answer is partially correct. Any adjusting entries necessary on June 30. Assume no other interest accrual entries have been made. (If no
(b) Your answer is partially correct. Any adjusting entries necessary on June 30. Assume no other interest accrual entries have been made. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation June 30 # Interest Expense Interest Payable Debit Credit Current Attempt in Progress On April 1, Bridgeport Corporation borrows $168,000 from Rigor Bank by signing an 8-month, 9%, bank loan. Interest is due at maturity. Prepare the entries listed below associated with the bank loan on the books of Bridgeport Corporation. Its year end is June 30. (a) Your answer is correct. The entry on April 1 when the loan was received. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Apr 1 Cash Bank Loan Payable Debit 168000 Credit 168000 C
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