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On January 1, 2018, Leming - Fang signed a $600,000, 10-year, 14% note. The loan required Leming - Fang to make annual payments on December 31 of $60,000 principal plus interest. Requirements 1. Journalize the issuance of the note on January 1, 2018 2. Journalize the first note payment on December 31, 2018 Requirement 1. Journalize the issuance of the note on January 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanations Debit Credit 2018 Jan. 1 On January 1, 2018 Leming - Fang signed a $600,000. 10-year, 14% note. The loan required Leming - Fang to make annual payments on December 31 of $60,000 principal plus interest Requirements 1. Journalize the issuance of the note on January 1, 2018 2. Journalize the first note payment on December 31, 2018 Requirement 2. Joumalize the first note payment on December 31, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry) Date Accounts and Explanations Debit Credit 2018 Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next