Brief Exercise 10-4 (Part Level Submission) Chaloux Company borrowed $69,120 from National bank on September 1 for three months; 5% interest is payable the first of each month, starting October 1. Chaloux's year end is October 31 and the company records adjusting entries only at that time. v (a) Your answer is correct. Prepare a journal entry to record the receipt of the bank loan on September 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit September 1 Cash 69,120 Bank Loan Payable 69,120 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT (b) Prepare journal entries to record: (1) the payment of interest on October 1, (2) the accrual of interest on October 31, (3) the payment of interest on November 1, and (4) the payment of interest on December 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit October 1 October 31 November 1 December 1 Attempts: 0 of 2 used