On September 30, 2021, Sheffield Corporation received a three-year, 8%, $1,400,000 bank loan. The terms provide for payment of the bank loan with quarterly instalment payments of $132,383, starting on December 31. Sheffield has a November 30 year end and records adjusting entries annually.

Record the receipt of the bank loan on September 30, 2021. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30

List of Accounts

Record the accrual of interest expense on November 30, 2021. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
Nov. 30

List of Accounts

Record the first two instalment payments, on December 31, 2021, and March 31, 2022. (Round answers to the nearest whole dollar, e.g. 5,250. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2021
Mar. 31, 2022