Parker & Washington, Inc. borrows $120,000 on January 1, 2021. They must pay back the loan, with 6% interest, on January 1, 2022. P&W closes its books to prepare financial reports quarterly on March 31, June 30, September 30, and December 31. For the journal entries below, use the following abbreviations: CASH = cash, INTEXP = interest expense, INTINC = interest income, INTPAY = interest payable, INTREV = interest receivable, LOAN loan payable. For part d, enter the multiple debit accounts in alphabetical order, for example, CASH before INTPAY a. Prepare the journal entry for January 1, 2021. Debit: CASH Credit: LOAN 120,000 120,000 b. Prepare the journal entry for March 31, 2021. Debit: INTEXP Credit: INTPAY 1,800 1,800