On June 1, Merando Company borrows $90,000 from First Bank on a 6-month, $90,000. 8% note. Prepare the entry on June I. Prepare the adjusting entry on June 30. Prepare the entry at maturity (December I), assuming monthly adjusting entries have been made through November 30. What was the total financing cost (interest expense)? In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. Poole Company enters sales and sales taxes separately in its cash register. On April 10. the register totals air sales $30,000 and sales taxes $1, 500. Waterman Company does not segregate sales and sales taxes. Its register total for April 15 is $25, 680, which includes a 7% sales tax. Prepare the entry to record the sales transactions and related taxes for each client