On January 1, Year 1, Stratton Company borrowed $170,000 on a 10 year, 8% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $25,335 each December 31 for 10 years. The required general journal entry to record the payment on the note on December 31, Year 2 is (round to the nearest dollar): Multiple Choice Debit Interest Expense $13,600; debit Notes Payable $11,735; credit Cash $25,335. Debit Notes Payable $13,600; debit interest Expense $11,735; credit Cash $25,335. Debit Interest Expense $12,661; debit Notes Payable $12,674; credit Cash $25,335. Debit Notes Payable $25,335; credit Cash $25,335. Debit Notes Payable $170,000; debit Interest Expense $8,335; credit Cash $25,335