On January 1, 2021, Tropical Paradise borrows $49,000 by agreeing to a 6%, five-year note with the bank. The funds will be used to purchase a new BMW convertible for use in promoting resort properties to potential customers. Loan payments of $947.31 are due at the end of each month with the first installment due on January 31, 2021. Required: Record the issuance of the installment note payable and the first two monthly payments(Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit 1 Date January 01, 2021 Cash Notes Payable Debit 49,000.00 49,000.00 Required: Record the issuance of the installment note payable and the first two monthly payments. (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the first monthly payment. Note: Enter debits before credits Goneral Journal Debit Credit Date January 31, 2021 Record entry Clear entry View general Journal Required: Record the issuance of the installment note payable and the first two monthly payments. (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the second monthly payment, Note: Enter debits before credits Date General Journal Debit Credit February 28, 2021 Record entry Clear entry View general Journal