For each of the following situations record the adjusting journal entry that would be required at year-end to accrue the interest expense. In each case assume that the year-end is December 31:

a. On September 1, a company borrowed $500,000 from a bank at an interest rate of 4 percent per year, payable on March 31 and September 30.

b. On June 1, a company issued a $6,000,000 bond that pays interest of 7 percent per year, payable annually on May 31.

c. On May 1, a company issued a $1,000,000 note that pays interest of 9 percent per year, payable quarterly on January 31, April 30, July 31, and October 31.

d. On July 2, a company borrowed $8,000,000 from a pension fund at an interest rate of 8 percent per year, payable monthly, on the last day of the month.