On April 1, 2020, Mendoza Company (a U.S.-based company) borrowed 540,000 euros for one year at an interest rate of 5 percent per annum. Mendoza must make its first interest payment on the loan on October 1, 2020, and will make a second interest payment on March 31, 2021, when the loan is repaid. Mendoza prepares U.S. dollar financial statements and has a December 31 year-end. Prepare all journal entries related to this foreign currency borrowing assuming the following exchange rates for 1 euro: Date April 1, 2020 October 1, 2020 December 31, 2020 March 31, 2021 U.S. Dollar per Euro $ 1.14 1.24 1.28 1.32 View transaction list Journal entry worksheet Record the borrowal of the foreign loan. Note: Enter debits before credits. Date General Journal Debit Credit 04/01/2020 Record entry Clear entry View general journal