Sandhill Co. borrows $98,400 on July 1 from the bank by signing a $98,400,10%, 1-year note payable. Prepare a tabular summary to record (a) the proceeds of the note and (b) accrued interest at December 31 , assuming adjustments are made only at the end of the year. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Current Attempt in Progress Sandhill Co. borrows $98,400 on July 1 from the bank by signing a $98,400,10%, 1 -year note payable. Prepare a tabular summary to record (a) the proceeds of the note and (b) accrued interest at December 31 , assuming adjustments are made only at the end of the year. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Current Attempt in Progress Sandhill Co. borrows $98,400 on July 1 from the bank by signing a $98,400,10%,1-year note payable. Prepare a tabular summary to record (a) the proceeds of the note and (b) accrued interest at December 31 , assuming adjustments are made only at the end of the year. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)