On September 30, 2020, Peace Frog International (PFI) (a U.S.-based company) negotiated a two-year, 2,000,000 Chinese yuan loan from a Chinese bank at an interest rate of 4 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: a. Prepare all journal entries related to this foreign currency borrowing b. Taking the exchange rate effect on the cost or borrowing into consideration, determine the effective interest rate in US. dollars on the loan in each of the three years 2020,2021, and 2022 Complete this question by entering your answers in the tabs below, Prepare all journal entries related to this forelgn currency borrowing, (Do not found intermediate caliulations. If no entry is redured lor. a transpetion/event, select "No Journal entry required" in the first account field.) Prepare all journal entries related to this foreign currency borrowing. (Do not round intermediate a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 45678 Record the receipt of 2,000,000 million yuan note. Note: Enter debits before credits. Prepare all journal entries related to this foreign currency borrowing. (Do not round intermediate calculatio a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet