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 $115,000 on a one-year, 9 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 the nearest whole dollar amount.)

1. Record the accrual of interest on June 30.
2. Record the accrual of interest on December 31.

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 the nearest whole dollar amount.)

1. Record the receipt of interest on February 28, 2018.
2. Record the principal payments on February 28, 2018.