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On January 1, 2021, Eagle Company borrows $22,000 cash by signing a four-year, 6% installment note. The note requires four equal payments of $6,349, consisting

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On January 1, 2021, Eagle Company borrows $22,000 cash by signing a four-year, 6% installment note. The note requires four equal payments of $6,349, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Exercise 10-13 (Algo) Installment note entries LO C1 Srepare the journal entries for Eagle to record the note's issuance and each of the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) Journal entry worksheet Eagle borrows $22,000 cash by signing a four-year, 6% installment note. Record the issuance of the note on Jenuary 1,2021 . Nate Enter debits beforn credits

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