The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assuming all quarterly adjusting entries were properly recorded, prepare the necessary year-end adjusting entries at the end of June 30, 2018, for the following situations. 2. On August 31, 2017, the company borrowed $80,000 from a local bank. The note requires principal and interest at 8% to be paid on August 31, 2018