Daniel and Paul borrowed $15,750 on a 7-month, 8% note from Gem State Bank to open their business, Blossom's Coffee House. The money was borrowed on June 1, 2025, and the note matures January 1, 2026. (a) (b) Your answer is correct. Prepare the entry to record the receipt of the funds from the loan. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation e 1, 2025 Cash Notes Payable eTextbook and Media List of Accounts Your answer is partially correct. Debit 15750 Credit 15754 Attempts: 2 of 15 used Prepare the entry to accrue the interest on June 30. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) ate Account Titles and Explanation 2025 Interest Expense Interest Payable eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 4 of 15 used Submit Answer