Shell Co issues a to year $100.000 bond with a stated interest rate of 6 and market interest rate of 5%. The proper journal entry was recorded by Shell Co on January 1, 2020 at Issuance, which include a to Cash for O A Credit: $300,000 OB. Debit: $300,000 Debit: More than 5300,000 OD. Debit: Less than $300,000 On January 1, 2020 Truffle Corp entered into a five-year installment note for $100,000 at 7% interest. The note requires a monthly payment of $1,980. Question 1: The Journal entry to record the payment on January 31, 2020 will include a Debit of $583 to Interest expense Question 2: What is the new Carrying Value of the Note Payable after the journal entry? $98,603