1.&2. Record the necessary entries in the Journal Entry Worksheet below, 3. Calculate the 2021 year end adjusted balances of Interest Receivable and interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet General Journal Debt Credit No 1 Date July 01, 2021 14,500 Cash Notes Payable 14.500 2 December 31, 2021 870 Interest Expense Interest Payable 870 Cetatud Required 3 > 12 Newt Check my w Midshipmen Company borrows $14,500 from Falcon Company on July 1, 2021 Midshipmen repays the amount borrowed and pays interest of 12% (1%/month) on June 30, 2022. Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the 2021 year-end adjusted balances of Interest Receivable and interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Calculate the 2021 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of interest Receivable at the beginning of the year is $0). Ending Balance $ $ 870 Interest receivable Interest revenue 870 and 2