How did they get to 2640 and -2640 from the information given?

Determine the positive or negative numerical impact of the adjusting entry. related to each of the following transactions of Ray's Repairs, a car repair company. You can assume that all adjusting entries in question are made on December 31. DO NOT use a "+" sign for positive values. Indicate negative numbers with parenthesis or "-". If there is no impact, put "0". Do not use "\$". Do not leave any cells blank. a. On February 1st of Year 1, Ray takes out a $24,000, one year loan. The interest rate is 12%, and Ray agrees to pay the interest at the end of the loan. Before the adjusting entry on December 31st, no interest expense had been recorded for the year