During 2020 Aldo Company entered into the following transactions related to current liabilities.

Date	Transaction description
Jul 1	Borrowed $600 from Delta Co. by signing a 12month, 6% note.
Dec 1	Received an advance payment of $400 from Customer A for a service to be performed in two months.
Dec 31	50% of the service for Customer A was performed.
Dec 31	Prepared adjusting entry to record interest for note issued to Delta Co.

Required: Prepare the journal entries for the above transactions

DATE	ACCOUNT TITLES		DEBIT	CREDIT
Jul. 1	AnswerNotes ReceivableService RevenueInterest ExpenseAccounts ReceivableNotes PayableAccounts PayableUnearned Service RevenueInterest PayableCash		$Answer
		AnswerAccounts ReceivableService RevenueNotes PayableUnearned Service RevenueInterest ExpenseInterest PayableAccounts PayableNotes ReceivableCash		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
Dec. 1	AnswerAccounts PayableUnearned Service RevenueNotes PayableService RevenueInterest ExpenseAccounts ReceivableInterest PayableCashNotes Receivable		$Answer
		AnswerNotes PayableAccounts ReceivableCashInterest ExpenseService RevenueNotes ReceivableAccounts PayableUnearned Service RevenueInterest Payable		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
Dec. 31	AnswerCashService RevenueInterest ExpenseAccounts ReceivableNotes PayableUnearned Service RevenueInterest PayableAccounts PayableNotes Receivable		$Answer
		AnswerAccounts PayableCashNotes ReceivableUnearned Service RevenueService RevenueNotes PayableAccounts ReceivableInterest PayableInterest Expense		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
Dec. 31	AnswerCashNotes ReceivableInterest ExpenseAccounts PayableUnearned Service RevenueInterest PayableNotes PayableAccounts ReceivableService Revenue		$Answer
		AnswerService RevenueInterest ExpenseNotes PayableUnearned Service RevenueCashAccounts ReceivableAccounts PayableNotes ReceivableInterest Payable		$Answer