On January 1, 2024, Leng - Fern signed a $240,000,8-year, 12% note The foan required Leng - Fern to make annual payments on December 31 of $30,000 principal plus interest. Requirements 1. Joumalize the issuance of the note on January 1,2024. 2. Journalize the first note payment on Decernber 31, 2024. Requirement 1. Journalize the is suance of the note on January 1, 2024. (Record debits tirst, then credits Select explanations on the last line of the joumal entry) On January 1, 2024, Leng - Fern signed a $240,000,8-yeat, 12% note. The loan required Leng - Fem to make annual payments on December 31 or $3,000 principal plus interest. Requirements 1. Journalize the issuance of the note on January 1, 2024 2. Journalize the first nole payment on December 31,2024