Assume that on January 1,2022 the company borrowed $100,000 at 8% for four years. (a) Prepare journal entries for each required date. (b) Show the relevant Income Statement and Balance Sheet presentation for the interest and loans. Income Statement Balance Sheet (for Section, indicate Current Liabilities or Long Term Liabilities) Assume that on January 1,2022 the company borrowed $100,000 at 8% for four years. (a) Prepare journal entries for each required date. (b) Show the relevant Income Statement and Balance Sheet presentation for the interest and loans. Income Statement Balance Sheet (for Section, indicate Current Liabilities or Long Term Liabilities)