Please help with the following question:

A company has a loan outstanding with the bank. It makes monthly interest payments on the 20th of each month. As of December 31 it had accrued (but not yet recorded) $140 of interest on the loan. It will pay the full amount of interest of $420 on January 20.

1. Prepare the December 31 adjusting journal entry.
2. Prepare January 20 entry to record the $420 interest payment, including the accrued expense. The company does not make reversing entries.