On December 31, 2023, Bonita Link Corporation received a four-year, 6%, $572,000 bank loan. The terms provide for payment of the bank loan with semi-annual Instalment payments of $81,485 principal and Interest, starting on June 30. Bonita has a March 31 year end and records adjusting entries annually. (b) Your answer is correct. Record any required adjusting entries at July 31. (The company records adjusting entries every month). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record the accrual of interest expense on March 31, 2024. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles Mar. 31 Interest Expense Interest Payable Debit Credit 8580 8590 Record the first two Instalment payments, on June 30, 2024, and December 31, 2024. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to O decimal places, e.g. 1,234.) Account Titles Interest Payable Debit 8580 Interest Expense 8580 64325 Bank Loan Payable Cash Interest Expense 25384 Bank Loan Payable 71332 Cash Credit 81485 81485