Midshipmen Company borrows $10,000 from Falcon Company on July 1, 2012.Midshipmen repays the amount borrowed and pays

Question:

Midshipmen Company borrows $10,000 from Falcon Company on July 1, 2012.Midshipmen repays the amount borrowed and pays interest of 12% (1% / month) on June 30, 2013.
(1) Record the lending for Falcon on July 1, 2012.
(2) Record the adjusting entry for Falcon on December 31, 2012.
(3) Calculate the 2012 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0)?