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On January 1, 2021, Julee Enterprises borrows $33,000 to purchase a new Toyota Highlander by agreeing to a 5%, 4-year note with the bank. Payments

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On January 1, 2021, Julee Enterprises borrows $33,000 to purchase a new Toyota Highlander by agreeing to a 5%, 4-year note with the bank. Payments of $759.97 are due at the end of each month with the first installment due on January 31, 2021. Record the issuance of the note payable and the first two monthly payments. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list View Journal entry worksheet No Date General Journal Debit Credit 1 January 01, 2021 Equipment Notes Payable 33,000.00 33,000.00 2 January 31, 2021 Notes Payable Interest Expenso Cash 3 February 28, 2021 Notes Payable Interest Expense Cash

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