Shaloh Corp. loaned $25,000 to Hanover Company on January 1, 2021 The stated interest rate on the note was 10%, but Hanover, because of its credit history always had to borrow at a rate of 12%. (market rate) The present value of the principle computed for 3 periods at 12% was $17,795 and the present value of the interest payments was $6,005. Prepare the journal entries: to issue the note on January 1, 2021 adjusting entries at December 31 of 2021, 2022 and 2023 to record the receipt of payment of the note on its due date