Brief Exercise 3-13 (Algo) Record the adjusting entry for interest receivable (LO3-3) Midshipmen Company borrows $10,000 from Falcon Company on July 1, 2024. Midshipmen repays the amount borrowed and pays interest of 12% (1%/month) on June 30, 2025. Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below for Falcon Company. 3. Calculate the 2024 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Calculate the 2024 year-end adjusted balances of Interest Receivable and Interest Revenue (assuming the balance of Interest Receivable at the beginning of the year is $0).