On April 1. Year 1, a company realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting the company's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. The company agrees to lend $550,000 to its supplier using a 12-month, 10% note. Required: 1. The loan of $550,000 and acceptance of the note receivable on April 1, Year 1 2. The adjustment for accrued interest on December 31, Year 1. 3. Cash collection of the note and interest on April 1, Year 2 Record the above transactions for the company. (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 1 2 3 Record the loan of $550,000 and acceptance of the note receivable on April 1, Year 1. Note: Enter debits before credits Date General Journal Debit Credit Apni 01