Homework: Chapter 12 Score: 0.42 of 1 pt : S12-1 (similar to) Save 1 of 11 (3 complete) HW Score: 21.97%, 2.42 of 11 pts Question Help On January 1, 2018, LeMay - Finn signed a $140,000, 7-year, 10 % note. The loan required LeMay - Finn to make annual payments on December 31 of $20,000 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. 2018 Jan. 1 Cash Notes Payable Received cash in exchange for a note 140,000 140,000 Requirement 2. Journalize the first note payment on December 31, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry) Date 2018 Dec. 31 Accounts and Explanations Debit Credit L