Revise your calculations based the new information provided below and then answer the questions that follow. A company lends $336,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the 7% note receivable accepted for a loan amount of $336,000. Note: Enter debits before credits. Date Credit General Journal Notes Receivable | Cash Debit 336,000 June 01 336,000 (b) Calculate the interest revenue to be recorded at the end of each year the note is outstanding. Interest revenue December 31, Year 1 December 31, Year 2 December 31, Year 3 June 1, Year 4 23,520 23,520 (c) Prepare the journal entries to accrue the interest receivable for each year the note is outstanding. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the interest receivable during the period ending December 31 for year Note: Enter debits before credits. General Journal Debit Credit Date December Interest Receivable 31 Interest Revenue (d) Prepare the journal entry to record receiving the cash at the note's maturity. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the receipt of cash on account of 7% note receivable. Note: Enter debits before credits. Date Credit Debit 406,560 June 01 General Journal Cash Interest Receivable Notes Receivable 336,000