In January 1, 2017 Eagle borrows $25000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $7,381, consisting of accrued interest and principle on December 31 of each year from 2017 through 2020. (Use appropriate factors from the tables. Round your intermediate calculations and final answer to the nearest dollar amounts. Round all table values to 4 decimal places, and use the rounded table values in calculations.)

Prepare the journal entries for Eagle to record the loan on January 1, 2017, and the four payments from December 31, 2017 through December 31, 2020