On June 1, Sandhill Co. Ltd. borrows S76,000 from Acme Bank on a 6-month, $76,000, 5% note.The note ma tures on December 1 Your answer is correct. 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 June 1 Cash Debit Credit Notes Payable 76000 SHOW LIST OF ACCOUNTS LUNK TO TEXT VIDEO! APPLIED SKILLS VIDEO: SIMILAR EXERCISE Y ur answer is correct. 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 June 30 Interest Expense Debit Interest Payable 380