Michelle Anthony and Laura borrowed $18,000 on a 7-month, 10% note from Gem State Bank to open their business, Sandhill's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a)-(b), (d) (a) Prepare a tabular summary to record the receipt of the funds from the loan. (b) Prepare a tabular summary to accrue the interest on June 30. (d) Prepare a tabular summary to record the repayment of the loan on January 1, 2023. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) June 1, 2022 (b) June 30, 2022 $ Assets Cash $ Notes Pay. Liabilities $ Interest Pay. + + $

Michelle Anthony and Laura borrowed $18,000 on a 7 -month, 10\% note from Gem State Bank to open their business, 5 andhill's Coffee House. The money was borrowed on June 1,2022, and the note matures January 1,2023, (a)-(b), (d) (a) Prepare a tabular summary to record the receipt of the funds from the loan. (b) Prepare a tabular summary to accrue the interest on June 30. (d) Prepare a tabular summary to record the repayment of the loan on January 1, 2023. Include margin explanations for the changes in revenues and expenses, (Yf a transaction causes a decreose in Assets, Liabilities or Stockholders' Equily, ploce a negative sign (or parentheses) in front of the amount entered for the porticular Asset, Llability or Equity item that was reduced)