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A local company has just approached a venture capitalist for financing to developa ski hill. On April 1, 2024, the venture capitalist lent the company

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A local company has just approached a venture capitalist for financing to developa ski hill. On April 1, 2024, the venture capitalist lent the company $1.08 million at an interest rate of 6%. The loan is repayable over four vears in fixed principal palyments. The first pavment is due March 31. 2025. The ski hill operator's year end will be December 31 Record the issue of the note payable on Apci 1, 2024, thit debit entry before credit entry. Credit account titles are autonatically indented when the amount is entered. Do not indent manually if no entry is required, select 'No Entry' for the account tities and enter O for the amounts. Calculate the amount of the fixed principal payment. Fixed principal payment Question Part Score Record the accruat of interest on December 31. 2024, and the instalment payment on March 31. 2025. (List all debit entries before credit entries. Credit account titles are autamotically indented when the amount is entered. Do not indent manually. If no entry is required. select 'No Entry' for the occount tities and enter Ofor the amounts. Record journal entries in the order presented in the problem. Record the accrual of interest on December 31,2024, and the instalment payment on March 31,2025. (List all debit entries before credit entries, Credit account titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts, Record journal entries in the order presented in the problem.) Record the accrual of interest on Decermber 31.2025, and the instalment pavment on March 31, 2026. QUist all debit entries before credit entries. Credit occount titles are dutomatically indented when the amount is entered. Do not indent manuolly If no entry is reaaired, select "No Entry' for the account tities and enter O for the amounts. Record journal entries in the order presented in the probiem)

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