On November 15, 2018, Jenco signed a four-year, $100.000 note payable to Vicksburg State Bank for the purchase of equipment. The note calls for interest at an annual rate of 12 percent (1 percent per month). The note is fully amortizing over a period of 48 months. A small portion of the amortization table showing the allocation of monthly payments between interest and principal is illustrated as follows. Amortization Table (12%, 4-Year Note Payable for $100.000: Payable in 48 Monthly Installments of $2.633) Reduction in Monthly Interest Unpaid Payment Expense Balance Payment Unpaid Balance Date Interest Period Issue date $ Nov. 15, 2018 Dec. 15 Jan 15, 2019 Feb. 15 Mar. 15 1,000 984 2,633 2.633 2,633 2,633 100.000 98,367 96,718 95,052 93,370 1.649 1,666 1,6821 967 951 Installment Notes Question 1: Prepare the journal entry to record the issuance of the note on November 15 Account Name Debit ($) Credit (S) Dr. Cr. QUESTIONS Installment Notes Question 2: Prepare the journal entry to record the first monthly payment on December 15 Enter the debit for the higher dollar amount first. Account Name Debit ($) Credit ($)