PLEASE SHOW YOUR WORK, AS SPECIFIC AS POSSIBLE, THANK YOU.

1. On May 1, 2019, the Yosemite Co. borrowed $1,250,000 from a Bank on a 5 year installment note. Each May 1 (starting May 1, 2020), Yosemite must make a $250,000 payment of the principal and also the annual interest payment at 10% on the outstanding balance of the debt. Yosemite has a 12/31 fiscal year end. Provide Yosemite's journal entries and adjusting journal entries in 2020. Date Account name Debit Credit