Journal entry worksheet Income taxes for the year total $42 , 000 but won't be paid until next April 15. Record the adjusting entry for income taxes at its year-end of December 31. Note: Enter debits before credits. Journal entry worksheet On June 30 , the company lent its chief financial officer $50 , 000 ; principal and interest at 7% are due in one year. Record the adjusting entry for interest at its year-end of December 31 . Note: Enter debits before credits. .