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Question8 Your answer is partially correct....

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Accounting

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Question8 Your answer is partially correct. On June 1, Larkspur, Inc. borrows $ 102,000 from First Bank on a 6-month, $ 102,000, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 102000 June 1 Cash 102000 Notes Payable Prepare the adjusting entry on June 30.(Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation June 30 Interest Expense interest Payable

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