On September $1,2024,$ Lindsey Engineering borrows $$408,000$ cash. The loan is made by FirstLending, under the agreement that Lindsey will repay the principal with four payments of $$102,000.$ Payments are due by October $1$ each year, with the first payment being due October $1,2025($next year$).$ Interest on the borrowing is $6\%,$ and Lindsey$$s year$-$end is December $31.$

Required:

$1$ to $3.$ Record the necessary entries in the Journal Entry Worksheet below. $($If no entry is required for a particular transaction$/$event$,$ select $$No Journal Entry Required$$ in the first account field.$)$

Journal Entry Worksheet

$1$ Recor the long$-$term note payable by Lindsey engineering.

$2$ Record the adjusting entry for interest on December $31,2024.$

$3$ Record the entry to reclassify the current portion of the note of December $31,2024.$