On January 1, 2019, Eagle Company borrows $25,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $7,381, consisting of accrued interest and principal on December 31 of each year from 2019 through 2022. Prepare the journal entries for Eagle to record the note's issuance and the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.)

• Record the payment of the first installment payment of interest and principal on December 31, 2019.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2019	Interest expense	1,750
	Notes payable
	Cash

• Record the payment of the second installment payment of interest and principal on December 31, 2020.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2020	Interest expense
	Notes payable
	Cash

• Record the payment of the third installment payment of interest and principal on December 31, 2021.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2021	Interest expense
	Notes payable
	Cash

• Record the payment of the fourth installment payment of interest and principal on December 31, 2022.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2022	Interest expense
	Notes payable
	Cash