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On June 1, Merando borrows $99,000 from First Bank on a six-month, $99,000,6% note. Prepare the entry on June 1. (Credit account titles are automatically

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On June 1, Merando borrows $99,000 from First Bank on a six-month, $99,000,6% note. Prepare the entry on June 1. (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.) Date Account Titles and Explanation June 1 (Borrowed cash and signed a note.) Prepare the adjusting entry on June 30. (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.) Date Account Titles and Explanation June 30 (Accrued interest expense.) Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (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.) Date Account Titles and Explanation Dec. 1 (Paid note and interest owing.) What was the total financing cost interest expense)? Total financing cost $

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