On January 1, 2016, Lucky - Fenn signed a $560,000, 8-year , 6% note. The loan required Lucky - Fenn to make annual payments on December 31 of $70,000 principal plus interest. Requirements 1. Journalize the issuance of the note on January 1, 2016. 2. Journalize the first note payment on December 31, 2016. (Record debits first , then credits. Select explanations on the last line of the journal entry.) Requirement 1. Journalize the issuance of the note on January 1, 2016. Date Accounts and Explanations Debit Credit 2016 Jan. 1 Choose from any list or enter any number in the input fields and then continue to the next