Question 3. (10 marks) Panthers Inc. agreed to loan an employee $200,000 for the purchase of a new house. The loan was executed on May 1, 2020, and is a one-year, 6% note, with interest payment required at the maturity on May 1, 2021. The company issues the semi-annual financial statements on June 30 and on December 31. Instructions: a. Prepare the journal entry required when the note was established on May 1, 2020. b. Prepare the journal entry to record the interests and principal received on the maturity date, May 1, 2021. Assume that the company properly recorded the accrued interests on the note to the accounts of "Interest Receivable" and "Interest Revenue" on June 30, 2020 and December 31,2020.