On July 1, 2021, Crane Limited received an 18-month loan for $28,600 from a bank at 6% and with these funds and another $11,400 cash, purchased a vehicle for $40,000. Prepare the journal entries to record each of the following on Crane's books: (a) The purchase of the vehicle on July 1, 2021. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and entero for the amounts.) Account Titles and Explanation Debit Credit Date July 1, 2021 28600 Accounts Receivable 11400 Cash 40000 Equipment (b) The accrual of interest at Crane's year end, December 31, 2021 and 2022, assuming adjusting entries are recorded annually and interest is due at maturity. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Credit Debit Account Titles and Explanation Date Dec. 31, 2021 Dec. 31, 2022 e Textbook and Media