Question: . (5 points) On November 1, 2019, Y borrowed $8,000,000 at 3%. Y will pay interest every 6 months with interest payments every May 1

. (5 points) On November 1, 2019, Y borrowed $8,000,000 at 3%. Y will pay interest every 6 months with interest payments every May 1 and November 1. Y will repay $4,000,000 of the principal on May 1, 2020 and the remainder on November 1, 2020. Assume Y only makes AJEs every December 31 AND does NOT make reversing entries. Prepare the entries Y should make on:

a. November 1, 2019

b. December 31, 2019

c. May 1, 2020

d. November 1, 2020

e. December 31, 2020

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