On January 1, 20Y2, Hebron Company issued a 5127,000,5-year, 11% instalment note to Ventsam Bank. The note requires annual payments of $34,362, beginning on December 31,20Y2 Joumakze the entries to record the following: 20Y Jan 1 irsued the note for cash at is face amount. Dec. 31 Paid the annual payment on the note, which consisted of interest of 513,970 and principat of \$20,392 20Y Dec 31. Paid the annuai payment on the note, including $6,473 of interest. The remainder of the payment reduced the principal balance on the