On January 1, 2024. LeMay- Finn signed a $150,000, 5-year, 8% note. The loan required LeMay-Finn to make annual payments on December 31 of 530,000 principal plus interest. Requirements 1. Journalize the issuance of the note on January 1, 2024 2. Journalize the first note payment on December 31, 2024. Requirement 1. Journalize the issuance of the note on January 1, 2024. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Accounts and Explanations Credit 2024 Date Debit Jan. 1