On January 1, 2024. Corvaliis Carnivals borrows $44,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $830.33 are due at the end of each month, with the first installment due on January 31,2024 Determine the financial statement effects of the issuance of the installment note and the first monthly payment. Complete this question by entering your answers in the tabs below. Determine the financial statement effects of the issuance of the installment note. On January 1, 2024, Corvallis Carnivals borrows $44,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $830.33 are due at the end of each month, with the first installment due on January 31,2024 Determine the financial statement effects of the issuance of the installment note and the first monthly payment. Complete this question by entering your answers in the tabs below. Determine the financial statement effects of the first monthly payment. (Amounts to be deducted should be entered with minus sign. Round answer to 2 decimal places,)