Part D. Installment Note On January 1, 2018, Golden Rams Company issued $175,000, five-year, 8% installment note to Albany State Bank. The note requires annual payments of $43,830, beginning on December 31, 2018. Journalize the entries to record the following: January 1: Issued the note for cash at its face amount. Janol Cash 175,000 December 31: Paid the annual payment on the note, which consisted of interest of $14,000 and principal of $29,830. 431 Intrest expense 14,000 Note payable 29,830 Cash 33,830 prepaid & intrest - Paid