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Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January 1, 2021. Dandy will make 12 monthly payments of

Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January 1, 2021. Dandy will make 12 monthly payments of $3,914.50 at the end of each month.

Cash Reduction of Note
Period Payment Interest Exp Note Payable Payable
(Credit) (Debit) (Debit) Balance
At issue --- --- --- $45,000.00
01/31/21 $3,914.50 $300.00 $3,614.50 41,385.50
02/28/21 3,914.50 ? ? ?
03/31/21 3,914.50 ? ? ?
04/30/21 3,914.50 ? ? ?
05/31/21 3,914.50 ? 3,711.85 26,684.93
Required:
Using the partially completed amortization table above, prepare the journal entries for the end of March and the end of April.

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