Question 7 (8 points) Prepare the necessary adjusting entries at December 31, 2011, for ABC Company for each of the following situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. On April 1, 2011, the company borrowed $100,000 from the bank. The note requires principal and interest at 8% to be paid on March 30, 2012 (Hint: only consider journal entries on Dec 31,2011). 1) 3) Blank # 1 Blank # 2 Blank # 3 Blank # 4 2)$ 4)$ Previous Page Next Page Page 7 of 16