Question 2 Question 2 of 16 On October 31, 2020, Tarling Company negotiated a one-year 100,000-franc loan from a foreign bank at an interest rate of 3% per year. Interest payments are made annually on Octobe 31, and the principal will be repaid on October 31, 2021. Tarling prepares U.S.-dollar financial statements and has a December 31 year-end. 6.5 points Date Franc Rate October 31, 2020 $0.49 December 31, 2020 $0.55 October 31, 2021 $0.65 Required: Assuming the above information Prepare all journal entries related to this foreign currency borrowing For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I s Paragraph Arial A v 10pt o I 2 3 11