Exercise 10-1 Kelly Jones and Tami Crawford borrowed $21,600 on a 7-month, 5% 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. -Your answer is partially correct. Try again. Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit June 1 9600 Notes Payable SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMELAR EXERCESE Your answer is partially correct. Try again. Proparc the entry to accruc the interest on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Expense 80 Interest Payable 80 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO APPLTED SKILLS VIDEO SIMELAR EXERCISE x Your answer is incorrect. T ry again Assuming adjusting entries are made at the end of each month, determine the balance in the interest payable account at December 31, 2017 Balance in interest payable account SHOW LIST OF ACCOUNTS LINK TO TEXT