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please include a brief explanation of how to solve Exercise 10-13 Installment note entries LO C1 On January 1, 2019, Eagle Company borrows $22,000 cash
please include a brief explanation of how to solve
Exercise 10-13 Installment note entries LO C1 On January 1, 2019, Eagle Company borrows $22,000 cash by signing a four-year, 6% installment note. The note requires four equal payments of $6,349, consisting of accrued interest and principal on December 31 of each year from 2019 through 2022 Prepare the journal entries for Eagle to record the note's issuance and the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet wwwww K1 2 4 Record the payment of the first installment payment of interest and principal on December 31, 2019. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Clear entry Record entry View general journalStep by Step Solution
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