this has 2 parts

On January 1, 2017, MM Co. borrows $85.155 each, with the first payment due one year after the note is signed 1. Prepare the journal entry to record issuance of the note. $340,000 cash from a bank and in return signs an 8% installment note for five annual payments of Table 8.3) (Use PV factors from table provided.) Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits Debit Credit General Journal Date Jan 01 2. For the first $85,155 annual payment at December 31, 2017, what amount goes toward interest expense? What amount goes toward principal reduction of the note? Record the issuance of the note. Note: Enter debits before credits Date Debit Credit General Journal Jan 01 Clear entry Record entry nt at December 31, 2017, what amount goes toward interest expense? What amount goes toward principal reduction of the note? Interest expense Principal reduction Next > Prev10 of 10