Kenneth and Steven borrowed $26,000 on a 7 -month, 6% note from Gem State Bank to open their business, Pharoah's Coffee House. The money was borrowed on June 1, 2025, and the note matures January 1,2026. Prepare the entry to acorue the interest on June 30, (t hit all debit entries befure credit entriec. Credit actount tites are Assuming adjusting entries are made at the end of each month, determine the balance in the Interest Payable account at December 31,2025. Balance in interest payable account repare the entry required on January 1, 2026, when the loan is paid back. ( 1 ist all debit entries before credit entries. Credit coount titles are automaticolly indented when amount is entered. Do not indent manually. If no entry is required, select "No intry" for the occount titles and enter 0 for the amounts.)