Question Six Henry-K Company purchased a computer system for 5,400 on January 1, 2020. The company expects to use the computer system for 3 years. It has no residual value. Required: If financial statements are prepared monthly, prepare the adjusting entry to be made by Henry-K Company on January 31, 2020. Date Accounts titles and explanation Debit Credit Question Seven Sherman Charter signed a four-month note payable in the amount of $9,000 on September 1. The note requires interest at an annual rate of 6%. Required: If financial statements are prepared monthly, prepare the adjusting entry to be made by Sherman Charter on September 30. Date Accounts titles and explanation Debit Credit