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On May 1, 2024, Mama's Plzza Shoppe borrowed $8,000 from a local bank and signed a note payable. The note requires repayment of principal and

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On May 1, 2024, Mama's Plzza Shoppe borrowed \$8,000 from a local bank and signed a note payable. The note requires repayment of principal and 9% interest on October 31, 2025. The company's fiscal year ends June 30, 2024. What adjusting entry ls necessary on June 30, 2024? Meitiple Choice: No adjusting entry is necessary

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