Biondi Corp sells medical equipment in the Miami area. Journalize the following transactions for

the company in the month of May.

1. Borrowed $24,000 at 6% for 5 years, with annual payments of $5,698

2. Recorded the issuance of the note receiving the cash

3. At the end of the first year, paid $5,698, of which $1,440 was for interest

4. At the end of the second year, paid $5,698, of which $1,185 was interest.

5. Made the final payment of $5,698, of which $324 was for interest