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On June 1, 2020 Dunlin Development Company borrows $400,000 from Southern Bank by signing an 9-month, 9% note. REQUIRED: a) Prepare the entry on June

On June 1, 2020 Dunlin Development Company borrows $400,000 from Southern Bank by signing an 9-month, 9% note. REQUIRED: a) Prepare the entry on June 1. [1 Mark] b) Prepare the adjusting entry on Dec 31. [1 Mark] c) Prepare the entry at maturity on March 1, 2021. [2 marks]

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