Journalizing Install ment Notes On the first day of the fiscal year, a company issues $69,000, 9 % , seven-year installment notes that have annual payments of $13,710. The first note payment consists of $6,210 interest and $7,500 of principal repayment. a. Journalize the entry to record the issuance o the installment notes. b. Journalize the first annual note payment. For a compound transaction, if an amount box does not require an entry, leave it blank