QUESTION 31 You have a choice here. You can either prepare this from the lender's perspective OR the borrower's perspective. The first line of your answer must state one of : NOTES RECEIVABLE or NOTES PAYABLE (whichever one you select). If you do not label the problem, you will get a zero because I don't know how you are answering All parts are required. Clearly label each part (ab etc and leave a few lines between each the perspective you selected. If you do both, only the first one will be graded, regardless of which is your best Round interest calculations to the nearest whole dollar.On October 22, 2020, Chance CPAs borrowed from First National Bank, signing a 7%, 120-day note. a) What is the due date of the note? Answer must include month day, year b) Calculate 2020 interest. Must show your work. Use a 360 day convention in your calculation c) Calculate 2021 interest, Must show your work. Use a 360 day convention in your calculation d) Calculate total interest on the note. Must show your work c) Propare the October 22, 2019 journal entry for the issuance of the note Prepare the December 31, 2019 entry to accrue interest a) On what financial statements and in what section will the accounts in your entry for (o) appoa. h) Prepare the entry on the maturity date (due date)