E8-1 Kelly Jones and Tami Crawford borrowed $15,000 on a 7-month, 8% note from Gem State Bank to open their business, JC's Coffee House. The money was borrowed on June 1, 2017, and the note matures January 1, 2018 Instructions (a) Prepare a tabular summary to record the receipt of the funds from the loan. (b) Prepare a tabular summary to accrue the interest on June 30. (c) Assuming adjustments are made at the end of each month, determine the balance in the Interest Payable account at December 31, 2017. (d) Prepare a tabular summary to record the repayment of the loan on January 1, 2018. E8-1 Kelly Jones and Tami Crawford borrowed $15,000 on a 7-month, 8% note from Gem State Bank to open their business, JC's Coffee House. The money was borrowed on June 1, 2017, and the note matures January 1, 2018 Instructions (a) Prepare a tabular summary to record the receipt of the funds from the loan. (b) Prepare a tabular summary to accrue the interest on June 30. (c) Assuming adjustments are made at the end of each month, determine the balance in the Interest Payable account at December 31, 2017. (d) Prepare a tabular summary to record the repayment of the loan on January 1, 2018