C&Q Marketing (CQM) recently hired a new marketing director, Jeff Otos, for its main office. As part of the arrangement, CQM agreed on February 28, 2020, to advance Jeff $75,000 on a one-year, 7 percent note, with interest to be paid at maturity on February 28, 2021. CQM prepares financial statements on June 30 and December 31. 2. Prepare the journal entries that CSM will make to accrue interest on June 30 and December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar amount.) No 1 Transaction Jun 30, 2020 General Journal Interest receivable Interest expense 2 Dec 31, 2020 Interest receivable Interest expense Debit Credit 1,750 1,750 2,625 2,625 3. Prepare the journal entry that CSM will make to record the interest and principal payments on February 28, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar amount.) No Date 1 Feb 28, 2018 Cash Interest expense Interest receivable 2 Feb 28, 2018 General Journal Debit Credit 5,250 437 x 4,812 x