Brief Exercise 8-2 Blossom Company borrows $60,000 on July 1 from the bank by signing a $60,000, 6%, 1-year note payable. Prepare a tabular summary to record (a) the proceeds of the note and (b) accrued interest at December 31, assuming adjustments are made only at the end of the year. (11 of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities Stockholders' Equity Retained Earnings Revenue - Expense - Dividend Cash = Notes Payable + Interest Payable + Common Stock + Interest expense Click if you would like to Show Work for this question: Open Show Work