On January 1, 2018, Leng - Fern signed a $180,000, 9-year, 15% note. The loan required Leng - Fern 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. Requirement 1. Journalize the issuance of the note on January 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry. Check your spelling carefully and do not abbreviate.) Date Accounts and Explanations Debit Credit 2018 Jan. 1 A company issued 6%, 10-year bonds that mature on June 30, 2028. The bonds were issued on June 30, 2018. Interest is paid each June 30 and December 31 after issuance. Assume the straight-line amortization method. Req 1. If the market interest rate was 4% at issuance, the bonds were issued at If the market interest rate was 8% at issuance, the bonds were issued at Req 2. Assume that $600,000 of the bonds had been issued at 92. Show the reporting on the company's balance sheet on December 31, 2018. (All amounts rounded to the nearest whole dollar.) Carrying amount at December 31, 2018 Long-term Liabilities: Less