below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2021,$ Eagle Company borrows $$24,000$ cash by signing a four$-$year, $8\%$ installment note. The note requires four equal payments of $$7,246,$ consisting of accrued interest and principal on December $31$ of each year from $2021$ through $2024.$

Exercise $14-13($Algo$)$ Installment note entries LO C$1$

Prepare the journal entries for Eagle to record the note's issuance and each of the four payments.

Note: Round your intermediate calculations and final answers to the nearest dollar amount.

Eagle borrows $$24,000$ cash by signing a four$-$year $8\%$ installment note. Record the issuance of the note on January $1,2021$z

General Journal