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help me figure out the amounts for the journal entiries 2 and 3 On April 1, 2021, Shoemaker Corporation realizes that one of its main

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On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on April 1, 2021 2. The adjustment for accrued interest on December 31, 2021. 3. Cash collection of the note and interest on April 1, 2022 Record the above transactions for Shoemaker Corporation. (If no entry is required for a perticular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the adjusting entry for accrued interest. Note: Enter debits before credits. 5 of 11

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