Give the balance in interest payable and expense accounts

Kelly Jones and Tami Crawford borrowed $30,000 on a 7-month, 5% note from Gem State Bank to open their business Orioles Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a) Your answer is correct. 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.) (c) 1/2 HI Assuming adjusting entries are made at the end of each month, determine the balance in the Interest Payable account at December 31, 2022 Balance in interest payable account e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (d) The parts of this question must be completed in order. This part will be available when you complete the part above