PART II (continued) For the next two questions please perform the adjusting entry required at year end and the entry required in the subsequent year 2021. Employees work 9:00am to 5:00pm daily Monday to Friday, December 31, 2020 is on a Wednesday and employee will not be paid until Friday January 2 2021. New Year's Day (January 1) is an unpaid holiday for the employees Prepare the adjusting entry on December 31, 2020 and the entry on January 2, 2021 Number of Employees Salary per day per Employee A5190 2 The company loans money to others at a high interest rate. Two months of interest has not been recorded at year end. Record the adjusting entry Note Receivable of $25,000 Monthly Interest eamed is $1,300 On January 31, 2021 the note receivable amount and all outstanding interest is collected and paid to the company. Record this subsequent entry