19 Dolnit Brief Exercise 3-12 Record the adjusting entry for interest payable (LO3-3) Midshipmen Company borrows $19,500 from Falcon Company on July 1, 2021. Midshipmen repays the amount borrowed and pays Interest of 12% (19/month) on June 30, 2022. Required: 1.82. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the 2021 year-end adjusted balances of Interest Payable and interest Expense (assuming the balance of interest Payable at the beginning of the year is $0) 02:31:30 Book Complete this question by entering your answers in the tabs below. References Required: and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) View transaction lit Journal entry worksheet