Question $9$ of $9$

$\frac{2\mathrm{.}5}{10}$

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Current Attempt in Progress effective interest method. Assume an effective rate of $6\%.$

$($a$)$

Question $9$ of $9$

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Prepare the company's journal entry for the July $1$ interest payment. $($Round answers to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$\backslash$table$[[$Cash$,],[,$Cash$],[$Interest Expense,$]]$

$547224$

$$

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