Gregor Corp. loaned $25,000 to Advent Group on January 1, 2020 The stated interest rate on the note was 10%, but Advent, because of its credit history always had to borrow at a rate of 12% (market rate) The present value of the principle computed for 3 periods at 12% was $17,795 and the present value of the interest payments was $6,005. Prepare the journal entries: 1. to issue the note on January 1, 2020 2. adjusting entries at December 31 of 2020, 2021 and 2022 3. to record the receipt of payment of the note on its due date Account Title Debit Credit