Perez company borrowed $60,000 From the National Bank on Apr, 2022, on a three-year, 3.7% noce. Interest is paid annually on April 1. If required, round amounts to the nearest dollar. Required: 1. Record the borrowing transaction in Perez's journal. 2022, Apr. 1 Cash 60,000 Notes Payable (Record issuance of note at par) 60,000 2. Prepare the adjusting entries made at December 31, 2022 and 2023. 2022, December 31 Interest Expense 3,915 Interest Payable 3,915 (Record interest expense) 3,915 2023, December 31 Interest Expense Interest Payable (Record interest expense) 3.915 3. Prepare the necessary journal entry to recognize the first interest payment on April 1, 2023. For those boxes in which no entry is required, leave the box blank. 2023, Apr. 1 Interest Expense 1,305 1,305 entry is required, leave the box blank. 2023, Apr. 1 Interest Expense Interest Payable Cash (Record interest payment) 3,915 5.220 4. Indicate how the note and associated interest would be presented on Perez's December 31, 2023 statement of financial position. Perez Company Statement of Financial Position (partial) December 31, 2023 Current liabilities: Interest payable Long-term liabilities: Notes receivable, 8.7%, due in 2025 3,915 5. Prepare the necessary journal entries to record the repayment of the note and the last year's interest payment on April 1, 2025. For those boxes in which no entry is required, leave the box blank. 2025. Apr. 1 Interest Expense Interest Payable Cash (Record interest expense and payment of interest)