Journalizing installment notes

On the first day of the fiscal year, a company issues $$52,000,11\%,$ five$-$year installment notes that have annual payments of $$14,070.$ The first note payment consists of $$5,720$ of interest and

$$8,350$ of principal repayment.

a$.$ Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank.

b$.$ Journalize the first annual note payment. If an amount box does not require an entry, leave it blank.