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On June 1 , Bonita Company borrows $ 1 0 6 , 5 0 0 from First Bank on a 6 - month, $ 1

On June

1,

Bonita Company borrows $

106, 500

from First Bank on a

6 -

month, $

106, 500, 8 %

note.

Prepare the adjusting entry on June

30 . (

Credit account titles are automatically indented when amount is entered. Do not indent manually.

)

Date Account Titles and Explanation Credit

June

30 [

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