Exercise 8-12 (Static) Record notes payable and reclassify debt (LO8-2, 8-4) On September 1, 2024, Lindsey Engineering borrows $400,000 cash. The loan is made by FirstLending, under the agreement that Lindsey will repay the principal with four payments of $100,000. Payments are due by October 1 each year, with the first payment being due October 1, 2025 (next year). Interest on the borrowing is 6%, and Lindsey's year-end is December 31. Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the long-term note payable by Lindsey Engineering. Note: Enter debits before credits. Date September 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the adjusting entry for interest on December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the entry to reclassify the current portion of the note on December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit View general journal Record entry Clear entry > >