On January 1, 2011, Randa borrows $25,000 cash by signing a four-year, 7% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2011 through 2014. (Use Table B.3)

Prepare the journal entries for Randa to record the loan on January 1, 2011, and the four payments from December 31, 2011, through December 31, 2014. (Round "PV Factor"to 4 decimal places and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

Date	General Journal	Debit	Credit
Jan. 1, 2011	(Click to select)Rent expenseNotes receivableAccounts payableCashInterest expenseNotes payableInterest payableAccounts receivable
	(Click to select)Notes payableCashInterest payableNotes receivableAccounts receivableInterest expenseRent expenseAccounts payable
Dec. 31, 2011	(Click to select)Interest payableNotes receivableNotes payableRent expenseInterest expenseCashAccounts payableAccounts receivable
	(Click to select)Accounts payableNotes payableCashAccounts receivableInterest expenseNotes receivableInterest payableRent expense
	(Click to select)CashInterest expenseNotes payableRent expenseAccounts receivableNotes receivableAccounts payableInterest payable
Dec. 31, 2012	(Click to select)Rent expenseAccounts receivableInterest payableAccounts payableCashNotes payableNotes receivableInterest expense
	(Click to select)Interest payableAccounts receivableNotes payableNotes receivableAccounts payableCashInterest expenseRent expense
	(Click to select)Interest expenseNotes payableNotes receivableRent expenseAccounts payableCashInterest payableAccounts receivable
Dec. 31, 2013	(Click to select)Rent expenseAccounts receivableCashInterest payableAccounts payableNotes payableNotes receivableInterest expense
	(Click to select)Notes receivableCashRent expenseAccounts payableAccounts receivableInterest expenseInterest payableNotes payable
	(Click to select)Accounts receivableInterest expenseRent expenseNotes payableAccounts payableCashNotes receivableInterest payable
Dec. 31, 2014	(Click to select)Notes receivableAccounts receivableAccounts payableNotes payableInterest expenseCashRent expenseInterest payable
	(Click to select)Accounts receivableAccounts payableInterest payableInterest expenseNotes payableNotes receivableCashRent expense
	(Click to select)Interest expenseAccounts payableCashAccounts receivableNotes receivableNotes payableRent expenseInterest payable