On September $30,2020,$ Peace Frog International $($PFI$)($a U$.$S$.-$based company$)$ negotiated a two$-$year, $1,400,000$ Chinese yuan loan from a Chinese bank at an interest rate of $2$ percent per year. The company makes interest payments annually on September $30$ and will repay the principal on September $30,2022.$ PFI prepares U$.$S$.$ dollar financial statements and has a December $31$ year$-$end.

Relevant exchange rates are as follows:

$\backslash$table$[[,\backslash$table$[[$U$.$S$.],[$Dollar$],[$per$]]],[,$Chinese$],[$Date$,$Yuan$],[$September $30,2020,($CNY$)],[$December $31,2020,$$$0\mathrm{.}140$