Entries for I 6e i aruary , Vear 1, tuzak Company wued 1 S47,000, 4 year, 9% installmert nge to Meee Sark. Theote requirw annual payments of $14,507, beginning on December 31, Year 1. ournalize the entries to record the following: Year 1 Jan. 1 Issued the note for cash at its face amount. Dec. 31 Paid the annual payment on the note, which consisted of interest of $4,230 and principal of $10,277 Dec. 31 Paid the annual payment on the note, including $1,198 of interest. The remainder of the payment reduced the principal balance on the note Issued the note for cash at its face amount. Year 1, Jan. 1 of interest of $4,230 and princpal of $10,277. For a compound transaction, if an amount box does not require an entry, leave it blank Paid the annual payment on the note, which Year 1, Dec. 31 1,198 of interest. The remainder of the payment reduced the principal balance on the note. For a compound transaction, if an amount bax does not require an e Year 4, Dec. 31