On January $1,$ Marshall Co$.$ Issued a $$360,000,$ three$-$year, $6\%$ installment note payable with payments of $$134,680$ principal and interest due on January $1$ for each of the next three years.

Prepare the adjusting joumal entry to accrue interest at December $31,$ Year $2.$ If required, round answers to the nearest whole amount.

Show the account$($s$)$ and amount$($s$)$ and where it$($they$)$ will appear on a classified balance sheet prepared on December $31,$ Year $2.$ If required, round answers to the nearest whole amount.

Partial Balance Sheet

Current Liabilities

Long$-$Term Liabilities

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