E9.15 , Greentree Foods borrowed $5 mil- Cash Flow Hedge: Interest Rate Swap ion of variable rate debt at an annual rate equal to the Treasury bill rate plus 80 bp, interest paid semian- nually on June 30 and December 31 of each year. The variable rate is reset every six months. To hedge against increasing interest rates, Greentree entered a receive variable/pay fixed interest rate swap, agree ing to pay a 2.5 percent fixed rate on a notional amount of $5 million. The present value of the expe future net swap payments was $25,000. The treasury bill rate was 2 percent on January 1,2020. On June LO 3 On January 1, 2020 asury bill rate is 2.4 percent and the swap has a fair value of $22,500. On December 31,2020 the treasury bill rate is 2.5 percent and the swap has a fair value of $6,000. Required Prepare the journal entries to record the events for the year 2020