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On January 1, 2021, Eagle Company borrows $35,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $10,333, consisting

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On January 1, 2021, Eagle Company borrows $35,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $10,333, 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 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. Journal entry worksheet 5 Eagle borrows $35,000 cash by signing a four-year, 7% installment note. Record the issuance of the note on January 1, 2021. Note: Enter debits before credits. On January 1, 2021, Eagle Company borrows $35,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $10,333, 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 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. Journal entry worksheet 5 Eagle borrows $35,000 cash by signing a four-year, 7% installment note. Record the issuance of the note on January 1, 2021. Note: Enter debits before credits

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