Chp $7$B HW $($i

$1$ Rainey Enterprises loaned $$30,000$ to Small Company on June $1,$ Year $1,$ for one year at $9$ percent interest:

Required

a$.$ Record these general journal entries for Rainey Enterprises:

$(1)$ The loan to Small Company.

$(2)$ The adjusting entry at December $31,$ Year $1.$

$(3)$ The adjusting entry and collection of the note on June $1,$ Year $2.$

b$.$ Show the effects of the three given transactions in a horizontal statements model.

Complete this question by entering your answers in the tabs below.

Required

Required $B$

final answers to the nearest whole dollar.$)$

$\backslash$table$[[$Event$,$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of$],[$Cash Flows$]]],[$Assets$,=,$Llabilities,$+,\backslash$table$[[\backslash$table$[[$Stockholders$\text{'}],[$Equity$]]],[$Retained$],[$Earnings$]],$Revenue,$-,$Expenses,$=,\backslash$table$[[$Net$],[$Income$]]],[$Cash$,+,\backslash$table$[[$Notes$],[$Receivable$]],+,\backslash$table$[[$Interest$],[$Receivable$]]],[\frac{6}{1}\frac{?}{Y1},,+,,+,,=,,+,,,-,,=,,],[\frac{12}{31}\frac{?}{Y1},,+,,+,,=,,+,,,-1,,=,,1],[\frac{6}{1}N2,,+,,+,,=,,+,-,,-,,=,,$T$],[\frac{6}{1}\frac{?}{12},,+,,+,,=,,+,,5,-,,=,,],[,,+,,+,,=,,+,,,-1,,=,,?]]$

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Required B $>$