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Brief Exercise 10-02 Tamarisk, Inc. borrows $67,200 on July 1 from the bank by signing a $67,200, 8%, 1-year note payable. () Prepare the journal

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Brief Exercise 10-02 Tamarisk, Inc. borrows $67,200 on July 1 from the bank by signing a $67,200, 8%, 1-year note payable. () Prepare the journal entry to record the proceeds of the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Debit July 1 (b) Prepare the journal entry to record the accrued interest at December 31, assuming adjusting entries are made only at the end of the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31 Open Show Work Click if you would like to Show Work for this

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