On January 1, Year 1, Stratton Company borrowed $230000 on a 10-year, 8% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $34.277 each December 31 for 10 years. The required general journal entry to record the payment o the note on December 31, Year 2 is: Debit Interest Expense $18, 400; debit Notes Payable $15, 877; credit Cash $34.277 Debit Notes Payable $18, 400, debit Interest Expense $15, 877 credit Cash $34, 277 Debit Expense $17, 130. debit Notes Payable $17, 147 credit Cash $34, 277 Debit Notes Payable $34, 277, credit Cash $34, 277