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Auto Lace 16- Protected View ole Home Page Layout Formas Data View Help O PROTECTED VIW to create a contine your Ravi Hamar CIB Enable 1 2 3 4 5 5 A B D E F G Exercise 3-6 Preparing adjusting entries (annual)-accrued expenses and revenue L04 Jurassic Jumpers Co. (JJ Co.) offers bungee jumping for those looking for an extreme outing, JJ Co. prepares annual financial statements and has a December 31, 2020 year-end. a. On April 1, 2020, JJ Co. took out a five-year, $500,000 bank loan with an interest rate of 3%. Interest expense is paid the first day of each month. b. On July 1, 2020, JJ Co. issued a two-year, $50,000 Note Receivable with an interest rate of 4%. Interest income will i collected on January 1 and July 1 of each year. e. On December 15, 2020, JJ Co. took a university student club bungee jumping for $2,000. The student club was invoi on December 31, 2020 and paid JJ Co. on January 15, 2021. Required Record the adjusting journal entries at December 31, 2020. Sheet1 Sheeta Type here to search O I 4 2 # @ 1128 AM 2021-09-29 14C * 0 , 4 NG