On January 1, 2015 the American Company borrowed 500,000 euros when the euro was worth $2.
Information about this loan is as follows:
	Term of loan		3 years
	interest payment dates		July 1 and January 1 of each year
	interest rate		10%
On July 1, 2015 the Euro is worth $2.11
On December 31, 2015 (January 1, 2016) the euro is worth $2.09
On July 1, 2016 the Euro is worth $2.05
On December 31, 2016 (January 1, 2017) the Euro is worth $1.99
On July 1, 2017 the Euro is worth $1.98
On December 31, 2017 (January 1, 2018) the Euro is worth $2.01
Make all necessary journal entries American Company makes connected with this loan [begin with getting the cash and signing the note]