Identify the type of adjustment necessary (the type of item involved) and record the transaction for the event.Make sure to include the ending balances after adjustment.
On June 1, Carter Lights Corp.borrowed $38,000 from the bank by signing a promissory note from the bank, with 7% interest.The note is due in three months.Interest for June has been incurred but not yet recorded.The interest to accrue for June is $180.The June 30 adjustment is: 
Definitions:
Units Produced
A measure of the total number of complete units manufactured or completed in a given period.
Units Sold
The total quantity of products that a company has sold to its customers during a particular time frame.
Net Income
The total earnings of a company after all expenses and taxes have been deducted from revenue.
Contribution Margin
The amount remaining from sales revenue after variable expenses are deducted, used to cover fixed costs and generate profits.
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