(b) on January 1, 2020, Pharoah Furniture borrowed $6,300,000 (face value) from Sinise Co, a major customer, through a zero-interest beaning note due in years because the Interest-bearing Pharoah Furniture agreed to sell furniture to this customer at lower than market price. A 10% rate of interest is normally charged on the type of an Prepare the journal entry to record this transaction (Round answers to decimal places, g.38,548. I no entry is required, select "No Entry for the accounties and Credit accountries are automatically indented when amount anteredDo not dent manual) Accountries and Explanation Debit 6,300,000 T Interest Expense C 5.300,000 Notes Payable 30296 Discount on Notes Pave 38,540.) Results by Study Determine the amount of interest expense to report for 2020. (Round answer to decimal places, 430296 Interest expense to be reported for 2020 Click if you would like to show Work for this question: Open Show Work SHOW OF ACCOUNTS