The Jackson Company borrowed $$50,000$ from a local bank on January $1,2024$ at an interest rate of eight

percent that will be repaid in full at the end of the three$-$year term. Prepare all of the transactions the company

would record in a tabular analysis related to the loan.

a$.$ For the Jackson Company, how much interest expense should they record in $2024?$ Enter as a positive number.

b$.$ For the Jackson Company, how much interest expense should they record in $2025?$ Enter as a positive number.