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Exercise 10-13 Installment note entries LO C1 On January 1, 2019, Eagle Company borrows $22,000 cash by signing a four-year, 6% installment note. The note

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Exercise 10-13 Installment note entries LO C1 On January 1, 2019, Eagle Company borrows $22,000 cash by signing a four-year, 6% installment note. The note requires four equal payments of $6,349consisting of accrued interest and principal on December 31 of each year from 2019 through 2022, Prepare the journal entries for Eagle to record the note's issuance and the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 5 Eagle borrows $22,000 cash by signing a four-year, 6% Installment note. Record the issuance of the note on January 1, 2019. Note: Enter debits before credits Date General Journal Debit Credit Jan 01, 2019 Record entry Clear entry View general Journal Journal entry worksheet Record the payment of the first installment payment of interest and principal on December 31, 2019 Note: Enter debits before credits. Dobit Credit Date General Journal Dec 31, 2019 interest expense Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the payment of the second installment payment of interest and principal on December 31, 2020. Note: Enter debits before credits. General Journal Dobit Credit Date Dec 31, 2020 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the payment of the third installment payment of interest and principal on December 31, 2021. Note: Enter debits before credits. General Journal Debit Credit Dato Dec 31, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the payment of the fourth installment payment of interest and principal on December 31, 2022. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2022 Record entry Clear entry View general Journal

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