ABC Co$.$ loans $$60,000$ cash to $xYZ$ Co$.$ on March $1.$ The loan plus interest of $6\%$ is due in $9$ months. Identify the accounts as debits or credits such as$$

Debit A$/$R $5$

Credit Sales $5$

a$.$ Record the journal entry for the loan made at March $1.$

b$.$ Record the journal entry for the receipt of the payment for the principal and interest earned at maturity.