Midshipmen Company borrows $14,500 from Falcon Company on July 1, 2021. Midshipmen repays the amount borrowed and pays Interest of 12% 11%/month) on June 30, 2022 Required: 1.82. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the 2021 year-end adjusted balances of Interest Recelvable and Interest Revenue (assuming the balance of interest Recevable at the beginning of the year is 50). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Joumal Entry Required in the first account field.) eference: View transaction et Journal entry worksheet Record the lending for Falcon on July 1, 2021. Note Enter debts setore credits General Journal Debit Credit Date July 01. 2021 Midshipmen Company borrows $14,500 from Falcon Company on July 1, 2021. Midshipmen repays the amount borrowed and pays Interest of 12% (19/month) on June 30, 2022 Required: 1.82. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the 2021 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of interest Receivable at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 . Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Joumal Entry Required in the first account fied.) rences View transaction list Journal entry worksheet 2 Record the adjusting entry for Falcon on December 31, 2021. tenter dets beore credits General Journal Debit Credit Date December 31 2021 Midshipmen Company borrows $14,500 from Falcon Company on July 1.2021. Midshipmen repays the amount borrowed and pays Interest of 12% [19month) on June 30, 2022 Required: 1.&2 Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the 2021 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required: and 2 Rechred 3 Calculate the 2021 year-end adjusted balances of interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is 50). Ending Balance Interest receivable Interest revenue