On December 1, 20x1, Jenny's Java Joint borrowed $50,000 from its bank in order to expand its operations. The firm issued a four- month. 9 percent note for $50,000 to the bank and received $48,500 in cash because the bank deducted the interest for the entire period in advance. In general Journal form, show the entry that would be made to record this transaction and the adjustment for prepaid interest that should be recorded on the firm's worksheet for the year ended December 31, 20X1. View transaction list Journal entry worksheet 1 2 Record the borrowing. Note: Enter debits before credits Date General Journal Debit Credit Dec 1, 20X1 On December 1, 20X1, Jenny's Java Joint borrowed $50,000 from its bank in order to expand its operations. The firm issued a four- month, 9 percent note for $50,000 to the bank and received $48,500 in cash because the bank deducted the interest for the entire period in advance. In general journal form, show the entry that would be made to record this transaction and the adjustment for prepaid interest that should be recorded on the firm's worksheet for the year ended December 31, 20X1. View transaction list Journal entry worksheet 1 3 Record an adjusting entry for interest. Note: Enter debits before credits General Journal Deblt Credit Date Dec 31. 20X1 Record entry Clear entry View general Journal