Question 1 of 25 -14 lii View Policies Current Attempt in Progress Admire County Bank agrees to lend Sheffield Brick Company $614000 on January 1. Sheffield Brick Company signs a $614000, 8%, 9- month note. What is the adjusting entry required if Sheffield Brick Company prepares financial statements on June 30? Interest Payable 24560 Cash 24560 o Interest Payable 24560 Interest Expense 24560 Interest Expense 24560 Cash 24560 Interest Expense 24560 Interest Payable 24560 Question 2 of 25 - 14 View Policies Current Attempt in Progress On October 1, Coronado's Carpet Service borrows $346000 from First National Bank on a 3-month, $346000, 7% note. What entry must Coronado's Carpet Service make on December 31 before financial statements are prepared? Interest Expense 24220 Interest Payable 24220 Interest Expense 6055 Notes Payable 6055 O o Interest Payable 6055 Interest Expense 6055 O Interest Expense 6055 Interest Payable 6055 Question 3 of 25 - / 4 E View Policies Current Attempt in Progress On October 1, 2021, Sheridan Company issued a $98000, 10%, nine-month interest-bearing note. If the Sheridan Company is preparing financial statements at December 31, 2021, the adjusting entry for accrued interest will include a: O credit to Notes Payable of $2450. O credit to Interest Payable of $4900. O debit to Interest Expense of $2450. O debit to Interest Expense of $3675. Question 4 of 25 -14 E View Policies Current Attempt in Progress On January 1, 2021, Crane Corporation issued $4000000, 10-year, 6% bonds at 101. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2021 is Cash 4040000 Bonds Payable 4040000 Premium on Bonds Payable 40000 Cash 4000000 Bonds Payable 4040000 Cash 4040000 Bonds Payable 4000000 40000 Premium on Bonds Payable Cash 4000000 Bonds Payable 4000000 Question 5 of 25 -/4 TIL View Policies Current Attempt in Progress 3500 thousand bonds with a face value of $1000 each, are sold at 104. The entry to record the issuance is Cash 3500000 Premium on Bonds Payable 140000 Bonds Payable 3640000 Cash 3640000 140000 Discount on Bonds Payable Bonds Payable 3500000 o Cash 3640000 Bonds Payable 3640000 O Cash 3640000 140000 Premium on Bonds Payable Bonds Payable 3500000