Produce a solution for the following questions Requirement 4Prepare the General Journal entry to record the wage payment made to the employees onFriday July 2nd.Hint: A portion of the wage payment is paying-off the Wages Payable liability that was recordedin the June 30th adjusting entry, and a portion of the wage payment is Wages Expense forthe month of July.92 SOLID FOOTINGProblem 7-7 Take-Out a Loan - Accrue Interest on the Loan - Pay InterestOn April 1, 2023, Baker Construction, Inc. signed a note for a loan from its bank. The following arethe terms and other information pertaining to the loan:Amount of the loanHow long the loan is for (the term of the loan)Date the loan was madeDate of first interest payment to the bankAmount of interest charged by the bank for AprilAmount of interest charged by the bank for MayAmount of interest charged by the bank for JuneChapter 7 - Adjusting Entries▷ Cash▷Note PayableInterest PayableInterest ExpenseThe following is a partial list of the accounts in Baker's General Ledger. These are the onlyaccounts you need for this problem.$100,0001 yearApril 1, 2023June 30, 2023$550$568$550Use the forms on Tab 7-7 in the Excel file workbook Chapter 07 c - Problem 7-1 to 7-8 Forms tocomplete this problem.Requirement 1Prepare the April 1, 2023 General Journal entry to record getting the loan from the bank.Requirement 2Prepare the April 30, 2023 General Journal adjusting entry to accrue the interest owed to thebank for the month of April.Hint: For help with how this interest payment should be recorded:Requirement 3Prepare the May 31, 2023 General Journal adjusting entry to accrue the interest owed to thebank for the month of May.Requirement 4Prepare the June 30, 2023 General Journal entry to record the payment of the April, May, andJune interest to the bank.Chapter 7 - Adjusting Entries▷ Look at March 30- Interest Payment to the Bank starting on Pg 57 in thefile 06- Accounting Cycle.pdf▷ Look at the March 30 interest payment transaction (Pay Interest button)on the March tab of the Excel 02-Gray Co workbook.SOLID FOOTING 93Problem 7-8 Accrue Rent Payable - Pay Rent the Following MonthOn September 1, 2023, Baker Construction, Inc. signed a contract to rent a warehouse. Baker'srent on the warehouse started that same day. On September 1, the landlord did not require Bakerto pay the first month's rent. The landlord indicated that she would stop-by on October 5 to collectthe $2,000 of rent for the month of September.

Q7. 01-04-2023 Cash A/c Dr 100000 To Notes payable 100000…

On April 1, 2023, Baker Construction, Inc. signed a note for a loan from its bank. The following are the terms and other information pertaining to the loan: Amount of the loan How long the loan is for (the term of the loan). Date the loan was made....... Date of first interest payment to the bank... Amount of interest charged by the bank for April Amount of interest charged by the bank for May. Amount of interest charged by the bank for June. $100,000 1 year April 1, 2023 June 30, 2023 $550 $568 $550 The following is a partial list of the accounts in Baker's General Ledger. These are the only accounts you need for this problem.