Melissa Hoadley and Kelly Quayle borrowed $14,400 on a 7-month, 10% bank loan from BMO Bank of Montreal to open their business, MK's Coffee House Inc. The money was borrowed on June 1, 2018, and the loan matures January 1, 2019. Interest is due at maturity. Prepare the entry to record the receipt of the funds from the bank loan. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jun. 1