On April $1,$ Year $3,$ River$$s Inc. purchased inventory for $$20,000$ by signing a $1-$year note payable that is due March $31,$ Year $4.$ The interest rate is the market rate of $6\%.$ All interest rates are expressed as an annual rate. River$$s Inc. uses the perpetual inventory system. Assume there is no GST or PST$.$ River$$s Inc. fiscal year end is December $31$st$.$

Required

Prepare the required journal entries from April $1,$ Year $3$ through March $31,$ Year $4.$ Round interest to the nearest month.