On August 1, 2018 a company borrows $25,000 by signing a two-year note. The note has an 8% annual interest rate and matures on August 1, 2020. Interest and principal are paid in cash on the maturity date. Record all the transactions related to this loan Balance Sheet Liabilities Income Statement Cash Flow Assets Transactions Cash Interest Payable Note Payable Equity Retained Earnings $ 5.000 Rev Exp Nel Income Type Amount $ 5.000 I Balance on 7/1/18 8/1/18 - Borrow money 12/31/18 - Adjusting entry 12/31/19 - Adjusting entry 8/1/20 - Pay principal 8/1/20 - Pay interest Balance on 8/31/20 Net Change in Cash