Below are the details of a loan Levis' obtained from their bank on November 1, 2021. 3 Required: Prepare the following journal entries: 4 a 8 a. On November 1, 2021 Levis' borrowed $200,000 from a bank with a five year term at an interest rate 5 of 7% per annum. 6 7 Date ACCOUNT TITLES Debit Credit 1-Nov 9 10 b. The first loan payment is due at the end of the month in the amount of $3,800. This payment includes 11 $1,440 of interest. 12 Date ACCOUNT TITLES Debit Credit 14 30-Nov 15 6 7 c. Total loan payments made in 2022 will be $1,600. It is determined that $36,000 of this amount will 8 go towards the principal of the loan. 9 Date ACCOUNT TITLES Debit Credit 31-Dec 3 0 2