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.) Assets Liabilities Cashi Notes Payable (a) July 1 $ (b) Dec. 31 Interest Payable ndhill Co. borrows $98,400 on July 1 from the bank by signing a $98,400, 10%, 1-year note payable. epare a tabular summary to record (a) the proceeds of the note and (b) accrued interest at December 31, assuming adjustments are ade only at the end of the year. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a ecrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular sset, Liability or Equity item that was reduced.) Common Stock Revenue eTextbook and Media List of Accounts Stockholders' Equity Retained Earnings Expense Dividend