On June $1,2024,$ Crane Company purchases equipment on account from Moleski Manufacturers for $$50,400.$ Crane is unable to pay its account on July $1,2024,$ so Moleski agrees to accept a three$-$month, $9\%$ note payable from Crane. Interest is payable the first of each month, starting August $1,2024.$ Crane has an August $31$ fiscal year end and adjusts its accounts on an annual basis.

Record all transactions related to the note for Crane Company. $($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 $0$ for the amounts. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,275.$ Record journal entries in the order presented in the problem.$)$

Date

Account Titles

Debit

Credit