On June $1,$ Sunland Company Ltd$.$ borrows $$34,000$ from Acme Bank on a $6-$month, $$34,000,12\%$ note. The note matures on December $1.$

$($a$)$

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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 $1$

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List of Accounts

Debit

Credit

Notes Payable

Attempts: unlimited

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

Debit

Credit

June $30$