Entries for and Financial Statement Presentation of a Note Augustine Corporation borrowed $61,000 from the J.P. Morgan Chase Bank on June 1 , 2023, on a 3-year, 8.7\% note. Interest is paid annually on May 31. If required, round amounts to the nearest dollar. Required: 1. Record the borrowing transaction in Augustine's journal. If an amount box does not require an entry, leave it blank. 2023, hone I Fereret iswavie of nute at ber 2. Prepare the adjusting entries made at December 31, 2023 and 2024. If an amount box does not require an entry, leave it blank. 3. Prepare the necessary journal entry to recognize the first interest payment on May 31, 2024. If an amount box does not require an entry, leave it blank. 202 4. Indicate how the note and associated interest would be presented in Augustine's December 31,2024 balance sheet. 5. Prepare the necessary journal entries to record the repayment of the note and the last year's interest payment on May 31, 2026. If an amount box does not require an entry, leave it blank