Adjusting Entries for Interest At December 31, 2011. Portland Corporation had two notes payable outstanding (notes 1 and 2). At December 31, 2012, Portland also had two notes payable below Date of note Principal Amount Interest Rate Number of Days December 31, 2011 Note November 25, 2011 $27,000 8 90 Note 2 December 16, 2011 16,000 99 60 December 31, 2012 Note 3 December 11, 2012 15400 9W 120 Note 4 December 07, 2012 18,000 101 90 Required a. Prepare the adjusting entries for interest at December 31, 2011 b. Assume that the adjusting entries were made at December 31, 2011, and that no adjusting entries were made during 2012. Prepare the 2012 journal entrieste at December 31, 2011, c. Prepare the adjusting entries for interest at December 31, 2012 Round answers to nearest dollar. Use 360 days for interest calculations when applicable General Journal