1 On January 1, 2021. Corvalis Carnivals borrows $12,000 to purchase a delivery truck by agreeing to a 7%, four-year loan with the bank. Payments of $28735 are due at the end of each month, with the first installment due on January 31, 2021 Record the issuance of the note payable and the first monthly payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Book Print Journal entry worksheet