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Kelly Jones and Tami Crawford borrowed $46,500 on a 7-month, 4% note from Gem State Bank to open their business, Wildhorse's Coffee House. The

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Kelly Jones and Tami Crawford borrowed $46,500 on a 7-month, 4% note from Gem State Bank to open their business, Wildhorse's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a) 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 June 1 Cash Notes Payable Debit 46500 Credit 46500

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