KENAL S On January 1, $65,000 cash is borrowed from a bank in return for a 6% installment note with 24 monthly payments of $2,881 each. (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note. 2. Prepare the journal entry to record the first monthly interest payment. View transaction list Journal entry worksheet 1 2 Record the issuance of the note payable. Note: Enter debits before credits. Date January 01 General Journal 4 Debit Credit

On January 1,$65,000 cash is borrowed from a bank in return for a 6% installment note with 24 monthly payments of $2,881 each. (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note. 2. Prepare the joumal entry to record the first monthly interest payment. Journal entry worksheet Note: Enter debits thore credits