On January 1, 2020, Kohl Company lent $49,587 to Hemingway Inc., accepting Hemingway's 2 year, $60,000, zero-interest-bearing note. Kohl Company follows IFRS. Required: Prepare Kohl's journal entries on January 1, 2020, December 31, 2020, December 31, 2021 and January 1, 2022. (Hint: you need to find the market interest rate carried by the note) The following interest factors are provided: (All supporting calculations must be shown.) (Note: Please type the answers. The system does not aceept inages or pictures. You will lose all marks if you upload your solutions in attached images or pictures)