On January 1, 2025 , Moore Corporation signed a $ 140 comma 000 , four -year, 4 % note. The loan required Moore Corporation to make payments annually on December 31 of $ 35 comma 000 principal plus interest. 1. Journalize the issuance of the note on January 1, 2025 . 2. Journalize the first payment on December 31, 2025 . (Record debits first, then credits. Select explanations on the last line of the journal entry.) Question content area bottom Part 1 1. Journalize the issuance of the note on January 1, 2025 . Date Accounts and Explanation Debit Credit Jan. 1 Part 2 2. Journalize the first payment on December 31, 2025 . Date Accounts and Explanation Debit Credit Dec. 31