On July 1, 2020, Swifty Ltd. borrowed $20,000 by signing a two-year, 3% note payable. The note is payable in two annual instalments of $10,452 on June 30. The company records adjusting journal entries annually at year end on December 31. (b) Record (1) the receipt of the $20,000 cash and the issue of the note on July 1, 2020; (2) the accrual of interest on December 31, 2020; (3) the first payment on June 30, 2021; and (4) the accrual of interest on December 31, 2021. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit 2020 July 1 Dec. 31 4 2021 June 30 Dec. 31 4