8) A company borrowed $30,000 in cash by signing a $30,000, three-year note payable with a 10% annual interest rate. What is needed in the journal entry to record this borrowing of $30,000 ? Credit to note payable for $30,000 Credit to interest expense for $9,000 Debit to cash for $39,000 Debit to note payable for $30,000 A company has a long-term loan on which it is making annual payments of $30,000. This year, the $30,000 payment is composed of $28,000 in interest and $2,000 that goes toward repaying the loan. What is needed in the journal entry to record this $30,000 cash loan payment? Debit to interest expense for $28,000 Debit to loan payable for $30,000 Credit to interest expense for $30,000 Credit to loan payable for $2,000 (60) A company has a five-year, $100,000 note payable on which it has been making annual interest payments of $6,000. This is the final year of the note, and the company has made a $106,000 payment to pay this year's interest as well as to repay the note itself. What is needed in the journal entry to record this $106,000 cash payment? Debit to interest expense for $106,000 Debit to note payable for $100,000 Credit to interest expense for $6,000 Credit to note payable for $100,000