DCL Industries purchased a supply of mechanical components from E Corporation on November 1,2024. In payment for the $48,000 purchase, DCL issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12% Required: 182. Prepare the journal entry for DCl's purchase of the components on November 1, 2024, then prepare the joumal entry for the first installment payment on November 30,2024 3. What is the amount of interest expense that DCL will report in its income statement for the year ended December 31. 2024? Complete this question by entering your answers in the tabs below. Prepare the journal entry for DCL's purchase of the components on November 1, 2024, then prepare the journal entry for the first installment payment on November 30,2024 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar. Journal entry worksheet Record the DCL's purchase of the components on November 1, 2024. Piote: Enter debits before credifs Journal entry worksheet Record the first installment payment on November 30, 2024. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. What is the amount of interest expense that DCL will report in its income statement for the year ended December 31. 2024? Note: Round your answers to nearest whole dollar