On January 1, 2021. Tropical Paradise borrows $50,000 by agreeing to a 6%, six-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 $828.64 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 et Journal entry worksheet 1 3 Record the issuance of a note payable. Rate Code ofrece Date General Journal Debit Credit January 01, 2021 Roerd only City View journal tropical Paradise borrows $50,000 by agreeing to a 6%, six-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 $828.64 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 ist Journal entry worksheet 1 3 Record the first monthly payment. Note Interseits before credits Date General Journal Debit Credit January 31, 2021 Record entry Clear entry Wew gier journal On January 1, 2021, Tropical Paradise borrows $50,000 by agreeing to a 6%, six-year note with the bank. The funds will be used to purchase a new BMW convertble for use in promoting resort properties to potential customers. Loan payments of $828.64 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 et Journal entry worksheet