On July 1, Shady Creek Resort borrowed $370,000 cash by signing o 10 year, 7% installment note requiring equal payments each June 30 of 552,680. What is the Journal entry to record the first annual payment? Multiple Choice Debit Cash $370,000, debit interest Expense $52,880; credit Noves Payable $422.680 Debit interest Expense 592 880, credit Cash $52/80 Debit interest Expense $25.900. Creo Cash $25.900 a Deberest Expense 625.000 de tresty 26700 credit Cash $52.600 Det er per $25.000, detit Notes 520.700, cred ca 120