On April 1, 2020, Mendoza Company (a U.S.-based company) borrowed 680,000 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: U.S. Dollar per Euro Date April 1, 2020 October 1, 2020 December 31, 2020 March 31, 2021. No Date 04/01/2020 Cash Sales $ 1.12 1.22 1.26 1.30 2 10/01/2020 Interest expense Cash Answer is not complete. General Journal Debit Credit 537,600 537,600 >> 537,600 537,600 3 12/31/2020 Interest expense Interest payable (euro) 7,560 7,560 4 12/31/2020 Foreign exchange gain or loss Accounts payable (euro) 67,200 67,200 5 03/31/2021 Interest expense Accounts payable (euro) 6 03/31/2021 Accounts payable (euro) Foreign exchange gain or loss Cash 604,800x 19,200 624,000 < Prev 2 of Next > es not indicate comple