On November 1, 20X1, Applewood Corp. borrowed $80,000 in cash by signing a nine-month, 12% note from a local bank. The note's face value lus interest is due on August 1, 20X2 e November 1, 20X1, journal entry is shown in the general journal below Required: In the journal below, prepare the 12/31/X1 and 8/1/X2 journal entries related to this note. Note: Round all interest calculations to the nearest whole month and whole dollar. Do not show decimals or cents in numerical responses. Date Debit Credit 11/1/X1 Cash 80,000 Note Payable 80,000 12/31/X1 8/1/X2