On January 1, Year 1. Stratton Company borrowed $250,000 on a 10-year, 9% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $38.955 each December 31 for 10 years. The required general journal entry to record the payment on the note on December 31, Year 2 is: Multiple Choice Debit Notes Payable $22.500, debit interest Expense $16,455; credit Cash $38,955. Debit interest Expense $22,500; debit Notes Payable $16,455; credit Cash $38,955. Multiple Choice Debit Notes Payable $22,500; debit Interest Expense $16,455; credit Cash $38,955. Debit Interest Expense $22,500; debit Notes Payable $16,455; credit Cash $38,955. Debit Notes Payable $38,955; credit Cash $38,955. Debit Notes Payable $250,000; debit Interest Expense S13,955; credit Cash $38,955. Debit Interest Expense $21,019, debit Notes Payable $17,936; credit Cash $38,955