On January 1, Yeargan Company obtained a $125,000, 7-year 5% installment note from Farmers Bank. The note requires annual payments of $21,602, with the first payment occurring on the last day of the fiscal year. The first payment consists of $6,250 interest and principal repayment of $15,352. Required: Journalize the following entries: If an amount box does not require an entry, leave it blank. a. Issued the installment note for cash on January 1. b. Paid the first annual payment on the