Shahriar On July 1, 2022, Shahriar Corporation acquired the following properties: 1 Investment property consisting of land and an apartment building in Saskatoon for $1.5 million. To finance this transaction, Shahriar Corporation issued a six-year interest-free promissory note. 2 Vacant land in Lisbon, Portugal for $4 million. To finance this transaction, Shahriar Corporation obtained a 8% mortgage for the full purchase price. secured by the land, with a maturity date of July 1, 2032. Interest is payable annually. If Shahriar Corporation borrowed money from the bank, the company would need to pay 9% interest. Instructions. a b. Prepare the journal entries to record the following (round to the nearest dollar): 1 The issuance of the debt 2 The interest at the end of the first year of borrowing (July-July) on both instruments using the effective interest method. 3 The accrual of interest and the related amortization on December 31, 2022, assuming this is Shahriar's year-end. Briefly discuss how each amount related to the bonds would be classifed on Shahriar's balance sheet. Show each account and amount and indicate whether it would be classified as current or non-current. Remember to show your work and name your file something unique Responses that do not show work and generic file names will receive a score of zero