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Rainey Enterprises loaned $40,000 to Small Co. on June 1. Year 1, for one year at 8 percent interest Required a. Record these general Journal entries for Rainey Enterprises: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) (1) The loan to Small Co (2) The adjusting entry at December 31, Year 1 (3) The adjusting entry and collection of the note on June 1. Year 2. View transaction list Journal entry worksheet 1 2 3 4 Record entry for loan provided to small Co. for one year at 8 percent interest Note: Enter debits before credits General Journal Debit Credit Date Jun 01 On May 1. Year 1, Benz's Sandwich Shop loaned $14,000 to Mark Henry for one year at 5 percent interest Required a. What is Benz's interest income for Year 1? b. What is Benz's total amount of receivables at December 31, Year 1? c. How will the loan and interest be reported on Benz's Year 1 statement of cash flows? d. What is Benz's interest income for Year 2? e. What is the total amount of cash that Benz's will collect in Year 2 from Mark Henry? f. How will the loan and interest be reported on Benz's Year 2 statement of cash flows? g. What is the total amount of interest that Benz's earned on the loan to Mark Henry? (For all requirements, round your answers to the nearest dollar amount.) a. Interest income b. Receivables C d. Interest income e. Cash 9. Interest earned