Midshipmen company borrows $18.000 from Falcon Company on July 1, 2021. Midshipmen repays the amount borrowed and pays interest of 12% (%/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 Payable and interest Expense (assuming the balance of interest Payable 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 Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the borrowing for Midshipmen on July 1, 2021. Enter debit before credit General Journal Date July 01, 2021 Debit Credit Record entry Clear entry View general Journal 1.82. Record the necessary entries in the Journal Entry Worksheet below 3. Calculate the 2021 year-end adjusted balances of interest Payable and interest Expense (assuming the balance of interest Payable at the beginning of the year is $0) Complete this question by entering your answers in the tabs below. Required 1 and 2 Required a Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) View transaction ist Journal entry worksheet