Problem 7-7 Take-Out a Loan- Accrue Interest on the Loan - Pay Interest On April 1, 2017, Baker Construction, Inc. signed a note for a loan from its bank. The following are the terms and other information pertaining to the loan: Amount of the loan $ How long the loan is for (the term of the loan)1 year Date the loan was made Date of first interest payment to the bank... Amount of interest charged by the bank for April..$550 Amount of interest charged by the bank for May Amount of interest charged by the bank for June. . $100,000 April 1,2017 June 30, 2017 $550 The following is a partial list of the accounts in Baker's General Ledger. These are the only accounts you need for this problem. D Cash D Note Payable Interest Payable D Interest Expense Remove and use the forms on Pg 225 to complete this problem. Requirement 1 Prepare the April 1, 2017 General Journal entry to record getting the loan from the bank. Requirement 2 Prepare the April 30, 2017 General Journal adjusting entry to accrue the interest owed to the bank for the month of April. Requirement 3 Prepare the May 31, 2017 General Journal adjusting entry to accrue the interest owed to the bank for the month of May Prepare the June 30, 2017 General Journal entry to record the payment of the April, May, and June interest to the bank. Requirement 4