Midshipmen Company borrows $19,000 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).

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