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On June 1, Sunland Company Ltd, borrows $56,000 from Acme Bank on a 6-month, $56,000, 12% note. The note matures on December 1. Part 1

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On June 1, Sunland Company Ltd, borrows $56,000 from Acme Bank on a 6-month, $56,000, 12% note. The note matures on December 1. Part 1 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

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