On January $1,2024,$ Patty's Pasties borrows $$12,000$ to purchase a delivery truck by agreeing to a $7\%,$ four$-$year loan with the bank. Payments of $$287\mathrm{.}35$ are due at the end of each month, with the first installment due on January $31,2024.$

Record the issuance of the installment note payable and the first monthly payment. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round your final answers to $2$ decimal places.$)$