can you jornalize as the required asks to?

Exercise 3 Turian Co. incurred the following transactions: a. On October 1, 2020, the company borrowed 500,000 from Citadel Bank, to be repaid one year later, on September 30, 2021, plus 7% interest. The bank agrees not to charge any early repayment penalties in case the firm decides to settle its debt before maturity. On July 1, 2021, Turian decided to repay it debt in full. Journalize all the entries related to the loan, from the date in which it is incurred to its repayment, including all the adjusting and closing entries at the end of 2020. The entries should be presented first by applying present value accounting, and then using future value accounting. Determine the present value of the loan at December 31, 2020, and the interest expense related to the loan for 2020 and 2021, under both present and future value accounting. b. On February 15, 2021, Turian sold 80,000 worth of products to Solar Electronics Co. (carried in the inventory for 52,500), receiving a 1-year note bearing interest at 8%. c. On September 15, 2021 the firm discounted its note receivable to Citadel Bank that applied an 11% discount rate to the transaction. d. On November 15, 2021, Turian purchased materials for 45,000, issuing a 7%, one-year note payable. 2 Required: Journalize the above described transactions, assuming perpetual inventory, and including the adjusting and the closing entries at the end of 2021. Exercise 3 Turian Co. incurred the following transactions: a. On October 1, 2020, the company borrowed 500,000 from Citadel Bank, to be repaid one year later, on September 30, 2021, plus 7% interest. The bank agrees not to charge any early repayment penalties in case the firm decides to settle its debt before maturity. On July 1, 2021, Turian decided to repay it debt in full. Journalize all the entries related to the loan, from the date in which it is incurred to its repayment, including all the adjusting and closing entries at the end of 2020. The entries should be presented first by applying present value accounting, and then using future value accounting. Determine the present value of the loan at December 31, 2020, and the interest expense related to the loan for 2020 and 2021, under both present and future value accounting. b. On February 15, 2021, Turian sold 80,000 worth of products to Solar Electronics Co. (carried in the inventory for 52,500), receiving a 1-year note bearing interest at 8%. c. On September 15, 2021 the firm discounted its note receivable to Citadel Bank that applied an 11% discount rate to the transaction. d. On November 15, 2021, Turian purchased materials for 45,000, issuing a 7%, one-year note payable. 2 Required: Journalize the above described transactions, assuming perpetual inventory, and including the adjusting and the closing entries at the end of 2021