Journalize the following entries on the books of the borrower and creditor. Label accordingly. (Assume a 360-day year is used for interest calculations.)
Definitions:
Antidiuretic Hormone
A hormone, also known as vasopressin, that regulates water balance in the body by reducing the volume of water excreted by the kidneys.
Luteinizing Hormone
A hormone produced by the anterior pituitary gland that plays a critical role in regulating the function of the ovaries and testes.
Glucagon
A hormone produced by the pancreas that increases blood glucose levels, acting as an antagonist to insulin.
Pancreatic Islet Cells
Cells located in the pancreas that produce hormones like insulin and glucagon, crucial for regulating blood sugar levels.
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