On January 1, 2021, LLB Industrles borrowed $360,000 from Trust Bank by Issulng a two-year, 10% note, with Interest payable quarterly. - LLB entered Into a two-year Interest rate swap agreement on January 1, 2024, and designated the swap as a falr value hedge. Its Intent was to hedge the risk that general Interest rates will decline, causing the falr value of its debt to increase. - The agreement called for the company to recelve payment based on a 10% fixed Interest rate on a notional amount of $360,000 and to pay interest based on a floating Interest rate. The contract called for cash settlement of the net interest amount quarterly and rates reset at the beginning of each perlod. - Floating (SOFR) settlement rates were 10% at January 1, 8% at March 31, and 6% at June 30 and September 30, 2024. The falr values of the swap are quotes obtalned from a derlvatlves dealer. Assume that LLB does not elect to use the shortcut method. The swap is deemed highly effective, but it is not assumed to be perfectly effective. Those quotes and the falr values of the note are as follows: Required: Prepare the journal entrles through September 30, 2024, to record the Issuance of the note, Interest, and necessary adjustments for changes in falr value. Use the extended method. Note: Round your Intermedlate and final answers to the nearest whole dollar. If no entry Is requlred for a transactlon/event, select "No journal entry requlred" In the first account fleld