on June 1, Merando Company borrows $121,500 from First Bank on a 6-month, $121,500, 8% note. se 10-16 Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Score ve Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation June 30 Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 1 What was the total financing cost (interest expense)? cost