Data	Payment	Interest	Decrease in Balance	Outstanding Balance
1/1/2023				$315,886
6/30/2023	$45,000	$9,477	$35,523	280,363
12/31/2023	$45,000	8,411	36,589	243,773
6/30/2024	$45,000	7,313	37,687	206,087
12/31/2024	$45,000	6,183	38,817	167,267
6/30/2025	$45,000	5,018	39,982	127,287
12/31/2025	$45,000	3,819	41,181	86,106
6/30/2026	$45,000	2,583	42,417	43,689
12/31/2026	$45,000	1,311	43,689	0

A) What is the annual effective interest rate on this debt?

B) Write the journal entry for the interest payment on 6/30/2023.