Question 28 (10 points) Saved On June 1, Reliable Corporation borrows $120,000 from the bank by signing a 3-month, 3.6%, bank loan. Interest is due at the beginning of each month, commencing July 1. Year end is July 31. Instructions Prepare the entries listed associated with the bank loan on the books of Reliable Corporation. (a) Prepare the entry on June 1 when the loan was received. (b) Prepare journal entry for July 1. (c) Prepare any adjusting entries necessary on July 31 in order to prepare the monthly financial statements. (d) Record payment on August 1.