On January 1, 2004. Fox Corporation agad a $220.000, ten-yox, 9% note. The loan teqared Fox to make payments annually on December 31 of $22.000 procent plan interest, 1. Journalize the issuance of the note on January 1, 2024 2. Journalce the first payment on December 31, 2024 Record debitsrst, the credits Select explanation on the last line of the journal entry Joumaze then of the note on January 1, 2024 Data Accounts and Explanation Debit Credit 1 Journal the first payment on December 31, 2024 Accounts and Explanation Date Debit Credit Dec 31