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Joumalize the entries to record the following: Year 1 Jan. 1 Issued the note for cash at its face amount. Dec. 31 Paid the annual
Joumalize 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. Year 4 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 Jan. 1 lssued 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. Year 4 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 Year 1, Dec. 31 entry, leave it blank
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