Prepare the journal entry related to the notes payable for December 31, 2017. (Round answers to 0 decimal places, e.g. 125, Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation enter an account title for the journal entry on Dec. December 31 31 Date Debit Credit enter a debit enter a credit amount amount enter an account title for the journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the journal entry on december 31 enter a debit enter a credit amount amount Disp Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance B Last 'D'x 9% IC A-B |A] D Last 'D'- C S331,500 S276,109 S215,733 S149,923 $78,190 Issue date $85,226 $85,226 $85,226 $85,226 $85,226 $29,835 $24,850 $19,416 $13,493 $7,037 $55,391 $60,376 $65,810 $71,733 3 4 $78,189 S1 Laverne purchased a new piece of equipment to be used in its new facility. The $390,000 piece of equipment was purchased with a $58,500 down payment and with cash received through the issuance of a $331,500, 9 % , 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $85,226 on December 31