QUESTION 8 On January 1, 2013, Merrill Company borrowed $100,000 on a 10-year, 796 installment note payable. The terms of the note require Merrill to pay 10 equal payments of $14,238 each December 31 for 10 years. The required general journal entry to record the first payment on the note on December 31, 2013 is Notes Payable Cash Notes Payable Cash 7.238 7,000 Interest expense 14.238 7.000 7,238 Interest expense 14.238 O Notes Payable 10,000 7,000 Interest expense Cash 17,000 O Notes Payable 14.238T 14.238 Cash Notes Payable Cash 10,000 4.238 Interest expense 14.238 Save All A Quhmit to saue and suhmit. Click Save All Answers to save all answers