Samwall Ltd. needed funding to bridge the gap between paying its suppliers and collecting its receivables. As such, Samwall issued a $300,000, four-year, 8% note at face value to Easy Loan Bank on January 1, 2020, and received $300,000 cash. The note requires annual interest payments each December 31. Prepare Samwall's journal entries to record 

(a) The note issuance and 

(b) The December 31, 2020 interest payment.