On June 1st Avery Company Ltd borrows $50000 from First Bank on a 6 month $50000, 9% note. The note matures on December 1.

On June 1^st Avery Company Ltd borrows $50000 from First Bank on a 6 month $50000, 9% note.  The note matures on December 1.

Instructions

A:        prepare the entry on June 1

B:        PREPARE the adjusting entry on June 30

C:        Prepare the entry a maturity (December 1) assuming monthly adjusting entries have been made through November

D:        what was the total financing cost (interest expense)?