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300,000 GENERAL JOURNAL Account Title Date DEBIT 20,165 CRE 198 On December 31, 2021, Rockwell Inc. issues a long term note payable for $ 199

300,000 GENERAL JOURNAL Account Title Date DEBIT 20,165 CRE 198 On December 31, 2021, Rockwell Inc. issues a long term note payable for $ 199 The note is a 10 year note with an interest rate of 6%. 200 The terms of the note call for semi-annual installment payments of S 201 202 INSTRUCTIONS: Prepare the journal entries to record the note on 12-31-21 and to pay the 203 first installment payment on 6-30-2022. 204 205 206 207 08 OPTIONAL EXTRA 2 POINTS - 1 Journal entry 19 10 Prepare the journal entry for 12-31-2022 (second payment) 1 Optional bonus - 1 journal entry

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