On July 1,2024 , a company issued the following note payable. Question Title (ii) IE 08-01 (Static) Using Excel to Prepare Journal Entries Related to the Issuance of a Note [LO 8-2] Required: Check Answers 1. Prepare the journal entry for issuance of the note. 2. Calculate the amount of interest expense that is recorded on December 31, 2024 and April 1, 2025. 3. Prepare the journal entry for interest accrued on December 31, 2024. 4. Prepare the journal entry for repayment of the note on the maturity date of April 1, 2025. Legend Requirement 1: Journal Entry for Issuance of Note on July 1, 2024 Graded cell: Leave blank if no answer is (Use cells A2 to B7 from the given information above to complete this question.) needed. Scratchpad: Use as a non-graded workspace Requirement 2: Calculate Interest Recorded on December 31, 2024 and April 1, 2025 (Use cells A2 to B7 from the given information above to complete this question. Hint: In cells C29 and C30, use the YEARFRAC function to calculate the number of months in the year. For example, in cell C29, calculate the number of months between cell A29 (issue date) and cell B29 (year end) using =YEARFRAC(A29, B29)*12 . Then, in your formulas for interest expense (cells D29 and D30), be sure to include cell references to the number of months.) Requirement 3: Journal Entry for Interest Accrued on December 31, 2024 (Use cells A2 to B7 from the given information above to complete this question.) Requirement 4: Journal Entry for Repayment of Note on April 1, 2025 (Use cells A2 to B7 from the given information above to complete this question.)