Jurassic Jumpers Co$.($JJ Co$.)$ offers bungee jumping for those looking for an extreme outing. JJ Co$.$ prepares annual financial statements and has a December $31,2023$ year$-$end.

a$.$ On April $1,2023,JJ$ Co$.$ took out a five$-$year, $$600,000$ bank loan with an interest rate of $3\%.$ Interest expense is paid on the first day of each month.

b$.$ On July $1,2023,JJ$ Co$.$ issued a two$-$year, $$67,250$ Note Receivable with an interest rate of $4\%.$ Interest income will be collected on January $1$ and July $1$ of each year.

c$.$ On December $15,2023,$ JJ Co$.$ took a university student club bungee jumping for $$3,300.$ The student club was invoiced on December $31,2023$ and paid JJ Co$.$ on January $15,2024.$

Required:

Record the adjusting journal entries at December $31,2023.$

View transaction list

Journal entry worksheet

$1$

$2$

$3$

Record accrued interest expense.

Note: Enter debits before credits.

$\backslash$table$[[\backslash$table$[[$Date$],[$Dec $31,2023]],$General Journal,Debit$],[,],[,,],[,,],[,,],[,,],[,,]]$

Recond entry

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