On January 2, 2023, Sunland Corp. issues a \$11-million, five-year note at LIBOR, with interest paid annually. To protect against the cash flow uncertainty related to interest payments that are based on LIBOR, Sunland entered into an interest rate swap to pay 8% fixed and receive LIBOR based on $11 million for the term of the note. The LIBOR rate for the first year is 7.8%, The LIBOR rate is reset to 8.8% on January 2, 2024. Sunland follows ASPE and uses hedge accounting. On December 31,2023 , the fair value of the swap decreased by $13,500 : it increased by $4,000 on December 31, 2024. Assume that the criteria for hedge accounting under ASPE are met. Prepare the joumal entries relating to the interest for the years ended December 31, 2023 and 2024. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account title and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all deblit entries before credit entrles.)