On-January 1, 2018, King Inc. borrowed $200,000 and signed a 4-yeor, note payable with o 10% interest rate. Each snnual paymant is in the amount of s59, 569 and payment is due each Dec. 31 . What is the joumal entry on Jen. 1 to record the cash recelved and on Dec. 31 to record the annual payment? (You will noed to prapare the first raw in the amortization table to determine the amounts.) If an amount box does not require an entry, leave it blonk