On Aprill $1,2023,$ Mendoza Company $($a U$.$S$.-$based company$)$ borrowed $620,000$ 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 $1,2023,$ and will make a second Interest payment on

March $31,2024,$ when the loan is repald. Mendoza prepares U$.$S$.$ dollar financlal statements and has a December $31$ year$-$end.

Required:

Prepare all journal entries related to this forelgn currency borrowing, assuming the following exchange rates for $1$ euro:

Note: If no entry is requlred for a transaction$/$event$,$ select $"$No Journal Entry Requlred" In the first account fleld.

Journal entry worksheet

Note: Enter debits before credits.