On the first day or the fiscal year, a company issues $40,000,5% five-year installment notes that have annual payments of 59.239 . The first note payment consists of $2.000 of interest and $7,239 of principal repayment. Required: Journalize the foliowing transections Refer to the chart of accounts for the exact wording of the account tilles CNOW, ournas do not use ines for joumal explanations. Every ine on a fournal page is used for debit or ciedit entres cNowjoumals wil aufomabcaty indent a credit entry when a creat amoun is entered 20Y1 Jan. 1 instaliment notes are issued 20Y2 Jan A First annuainote payment is mace Joumatze the entry to record the issuance of the instailment notes on Januwy t. Refer to the chart of accounts for the exact wording af the account boes cNowjoumat. to not use lines for journal explanotions. Eveny ane on a journal page is used for dobt or credi entres chow ioumals wil astamat cally andent a creair entry inhen a cred 3 mount is entered