TRERT Help Save A EN Submit 9 TB MC Qu. 10-125 (Algo) on July 1, Shady Creek Resort... On July 1, Shady Creek Resort borrowed $390,000 cash by signing a 10 year, 9% installment not requiring en payments each June 30 of $60,770 What is the journal entry to record the first annual payment? 3 points Multiple Choice wo ce Debit Cash $390,000, debit interest Expense 560,770 credit Notes Payable $450.770. Debit interest Expense $60.770. Credit Cash $60,770 Debit interest Expense $35,100 Credit Cash $35,100 Debit interest Expense 535,100; debit interest Payable $25,670; credit Cash $60,770 Help Save & EN Sub 9 Multiple Choice Debit Cash $390,000. debit interest Expense $60,770. credit Notes Payable $450770 3 POIN Debit interest Expense $50,770: credit Cash $60,770 Rences O Debit interest Expense $35,100: credit Cash $35.100. Debit Interest Expense $35,100; debit interest Payable $25,670. credit Cash $60,770 Debit Interest Expense $35,100; debit Notes Payable $25,670, credit Cash $60.770