Kelly Jones and Tami Crawford borrowed $13,800 on a 7-month, 10% note from Gem State Bank to open their business, Cullumber's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. 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) Date Account Titles and Explanation Debit Credit June 1 Cash 13800 Notes Payable 13800 eTextbook and Media List of Accounts Prepare the entry to accrue the interest on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 115 June 30 Interest Expense 115 Interest Payable eTextbook and Media List of Accounts x Your answer is incorrect. 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 5950 e Textbook and Media List of Accounts Prepare the entry required on January 1, 2023 when the loan is paid back. (Credit scenant titles are automatically indented when amount is entered. Do not indent manually I Date Account Titles and Explanation Debit Credit Jan. 1. Notes Payable 2023 13800 tnterest Payable DE eTextbook and Media List of Accounts