Oriole Company borrows $$93,600$ on July $1$ from the bank by signing a $$93,600,7\%,1-$year note payable.

$($a$)$ Prepare the journal entry to record the proceeds of the note. $($List all debit entries before credit entries. Credit account titles are

automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and

enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

$($b$)$ Prepare the journal entry to record the accrued interest at December $31,$ assuming adjusting entries are made only at the end of

the year. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$