Complete the following adjusting entry for Mookie The Beagle Concierge.

Interest on Mookie The Beagle Concierge$$s Loan Payable to Cy has been incurred, but not recorded or paid. The interest that has been incurred is calculated as principal multiplied by the interest rate multiplied by the time period $($$$2,000\backslash$times $6\%\backslash$times $1-$: $12=$ $$10\mathrm{.}00).$ Interest Expense of $$10\mathrm{.}00$ must be recorded as an accrued expense and Interest Payable, a liability, recorded for the amount that Mookie The Beagle Concierge is obligated to pay later. So an adjusting entry is needed to bring accounts up to date at January $31.$

QBO CROSSCHECK

Before proceeding, crosscheck your Loans Payable account to verify that it has a balance of $$2,000.$

Required:

Complete the following table.

Note: Answer this question in the table shown below. Round your answer $2$ decimal places.

Plan Adjusting Journal Entry.

Complete the following table to plan the adjusting journal entry to enter in QBO

A screenshot titled, journal entry. The Journal entry consists of the journal date and the journal number to be filled. Below this, a table lists # accounts, debits, credits, descriptions, and names. Rows $1$ and $2$ of the # account have smart dots $1$ and $3$ respectively. Row $1$ of debit has smart dot $2.$ Row $2$ of credits has smart dot $4.$

Note: Enter your adjusting entry in the table shown below as you would enter it in QBO. Round your answers to $2$ decimal places.