G Question 4: Loans Receivable LAX, Inc. loans $500,000 to Expansion, Inc. on March 1, 2019. The interest rate is 12% (simple interest- no interest on interest) and the loan and interest will be repaid in full on February 28, 2021. 1. Enter the transactions into the appropriate t-accounts on March 1, 2019 for LAX 2. Enter the adjusting entry into the appropriate t-accounts on December 31, 2019 and December 31, 2020 for LAX. 3. Show the loan and interest being received by LAX on February 28, 2021. 4. How should the loan payable and interest be classified on the LAX's balance sheet as of 12/31/19? Would the presentation be different on 12/31/20? 201