Perez Company borrowed $54,000 from the First National Bank on June 1, 2019, on a 3-year, 8.7% note. Interest is paid annually on May 31. If required, round amounts to the nearest dollar. Required: 1. Record the borrowing transaction in Perez's journal 2019. June 1 Record issuance of note at par 2. Prepare the adjusting entries made at December 31, 2019 and 2020. 2019. December 31 Record interest expense 2020. December 31 Record interest expense 3. Prepare the necessary journal entry to recognize the first interest pa 2020. May 31 Record interest and payment of d interest would be presented in Perez December 31, 2020 balance sheet 4. Indicate how the note an Dot Com Bulan Sheart Da Current 4. Indicate how the note and associated interest would be presented in Perez's December 31, 2020 balance sheet. Perez Company Balance Sheet (partial) December 31, 2020 Current liabilities: Long-term liabilities: 5. Prepare the necessary journal entries to record the repayment of the note and the last year's interest on May 31, 2022. 2022. May 31 Record interest expense and payment of interest 2022. May 31 Record repayment of rota principal