On April $1$st$,2022,$ the Edmonton Manufacturing Company $($EMC$)$ negotiates a loan from the bank for $$50,000$ with a term of five years, bearing an interest rate of $10\%.$ The loan will require a payment against the principal of $$10,000$ per year plus interest on March $31$st$.$ The EMC has a December $31$st year end and prepares adjusting entries and financial statements only once a year. JOURNAL ENTRY APRIL $1$STPrepare the journal entry to record the cash receipt from the loan on April $1$st$,2022.$Choose...JOURNAL ENTRY DECEMBER$31$STChoose.. ~Prepare the adjusting entry on December $31$st$,2022.$How much of the principal is paid on March $31$st$,2023?$Choose...What is the amount of the interest expense that should be recorded on March $31,2023$ for the current year?Choose... ~What is the amount of the interest payable that should be debited on March $31,2023$for the current year? DR Interest payable $3,750$ CRInterest Expense $3,750$$$10,000$DR Cash $50,000$ CR Note Payable$50,000$$$1,000$$$3,750$$$5,000$DR Interest Expense $3,750$ CRInterest Payable $3,750$$$1,250$DR Cash $50,000$ CR AccountsPayable $50,000$