PLEASE, DO NOT ANSWER IF YOU DON'T KNOW THE CORRECT ANSWER AND PLEASE ANSWER BOTH QUESTION $1$ AND $2($DETAILS WILL BE POSTED IN TEXT BELOW$).$ THIS IS MY SECOND TIME POSTING THIS QUESTION ALREADY. I$\text{'}$M STRESSED. I WILL REPORT YOUR ANSWER TO CHEGG IF IT'S WRONG OR IRRELEVANT!

On $1$ May $20$X$9.$ All$-$Man Imports Ltd$.($AML$)$ obtained a five$-$year loan from a major New York bank. The loan is for US$$18,000,000,$

bears interest at $6\%$ per annum $($paid annually on the loan anniversary date$),$ and matures on $31$ December $20$X$14.$ AML reports in Canadian dollars. At the date the note was issued, the exchange rate was US $$1\mathrm{.}00=Cdn$$$0\mathrm{.}92.$ On $31$ December $209,$ the exchange rate was US $$1\mathrm{.}00=Cdn$$$0\mathrm{.}88,$ and the average exchange rate for the last $8$ months of the year was US $$1\mathrm{.}00=Cdn$$$0\mathrm{.}91.$

Required:

$1.$ Prepare the journal entry to record the loan on $1$ May $209.$

Record the loan granted.

$2-$a$.$ What amounts relating to the loan will appear on AML's statement of financial position on $31$ December $209?($Do not round Intermedlete celeuletions.$)$

Long$-$term note payable:

Accured interest payable:

$2-$b$.$ What amounts are included in earnings for $209?($Do not round Intermedlete calculetlons.$)$

Interest expense:

Foreign exchange gain: