Identify the type of adjustment necessary (the type of item involved) and record the transaction for the event. Make sure to include the ending balances after adjustment.

On June 1, Carter Lights Corp. borrowed $38,000 from the bank by signing a promissory note from the bank, with 7% interest. The note is due in three months. Interest for June has been incurred but not yet recorded. The interest to accrue for June is $180. The June 30 adjustment is:

Assets =			Liabilities + Stockholders' Equity
	Cash	Office Equipment	Accumulated Depreciation	Interest Payable	Common Stock	Retained Earnings
Adjustment
Bal.