On October 31, 2012, Darling Company negotiated a two-year 100,000 franc loan from a foreign bank at an interest rate of 3 percent per year. Interest payments are made annually on October 31, and the principal will be repaid on October 31, 2014. Darling prepares U.S.-dollar financial statements and has a December 31 year-end. Prepare all journal entries related to this foreign currency borrowing assuming the following: 
Definitions:
Central Traits
The handful of outstanding traits that describe a person’s behavior.
Cardinal Traits
The most pervasive and powerful human traits.
Functional Autonomy
The concept that motives in an adult are independent of the early experiences in which they originally appeared.
Perseverative Striving
Perseverative striving is the repeated and continuous effort towards a goal, even in the face of obstacles, frustration, or evidence that the goal may be unattainable.
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