Part 110 points each Journalize the following Iransactions on the attached joumal fMake sure fo list the date it was paid and show interest calculation) 1. Assume on August 12022 a company borrows $50,000 for five years at an annual interest rate of 5%, and rather than paying the account off on the due date, the company requests an extersion and converts the accounts payable to a note payable. 2. They request a 12% interest rate on a 60 -day note that they pay on time 3. Assume on Jan 12022 a company borrows $50,000 for five years at an annual interest rate of 5%. 4. Assume the company borrows $10,000 at 8% of for half of a year (January 1 through June 30). 1. What is the difference between Accounts Payable and notes Payable? 2. How do yow compute she interest ared ow a low? 1. What is the difference in a short term Pavahe and a long fenm paywhe? Part 110 points each Journalize the following Iransactions on the attached joumal fMake sure fo list the date it was paid and show interest calculation) 1. Assume on August 12022 a company borrows $50,000 for five years at an annual interest rate of 5%, and rather than paying the account off on the due date, the company requests an extersion and converts the accounts payable to a note payable. 2. They request a 12% interest rate on a 60 -day note that they pay on time 3. Assume on Jan 12022 a company borrows $50,000 for five years at an annual interest rate of 5%. 4. Assume the company borrows $10,000 at 8% of for half of a year (January 1 through June 30). 1. What is the difference between Accounts Payable and notes Payable? 2. How do yow compute she interest ared ow a low? 1. What is the difference in a short term Pavahe and a long fenm paywhe