On January $1,2021,$ Eagle Company borrows $$26,000$ cash by signing a four$-$year, $8\%$ installment note. The note requires four equal payments of $$7,850,$ consisting of accrued interest and principal on December $31$ of each year from $2021$ through $2024.$

Prepare the journal entries for Eagle to record the note's issuance and each of the four payments.

Note: Round your intermediate calculations and final answers to the nearest dollar amount.