Your answer is partially correct. Try again. Prepare the journal entry at December 31, 2017, to record the payment and interest (effective-interest method employed). (Round answers to O decimal places, e-9-5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2017 Interest Expense Notes Payable 18000 Discount on Notes Payable Cash 18000 Your answer is partially correct. Try again. Prepare the journal entry at December 31, 2018, to record the payment and interest (effective-interest method employed). (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2018 Interest Expense Notes Payable 18000 Discount on Notes Payable Cash 18000