hey this is the same subject ACCT

In 2021, Crane Marvels signed a $77,040 note payable for 2 years at 5%. Interest is payable monthly on the 10th of each month. Crane has a December 31 year end, and adjusting entries are prepared at year end only. For calculation purposes assume each month has 30 days. Prepare the journal entry to record the payment of interest on December 10. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Dec. 10 eTextbook and MediaPrepare the journal entry to record the adjusting entry to accrue interest at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Dec. 31 eTextbook and Media Prepare the journal entry to record the payment of interest on January 10. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Jan. 10