Kelly Jones and Tami Crawford borrowed $15,750 on a 7-month, 8% note from Gem State Bank to open their business, Blossom's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. 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 Credit June 1 Debit Notes Payable Date Debit Credit Account Titles and Explanation Interest Expense June 30 Interest Payable e Textbook and Media List of Accounts Assuming adjusting entries are made at the end of each month, determine the balance in the Interest Payable accountat December 31, 2022 Balance in interest payable account $ I Prepare the entry required on January 1, 2023, when the loan is paid back (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date Jan 1 2023 Notes Payable Interest Payable Cash N