PROBLEM III$-$INSTALLMENT NOTE $(11$ Points$)$

Biondi Corp sells medical equipment in the Miami area. Journalize the following transactions for

the company in the month of May.

a$.$ Borrowed $$34,000$ at $6\%$ for $5$ years, with annual payments of $$6,698$

b$.$ Recorded the issuance of the note receiving the cash

c$.$ At the end of the first year, paid $$6,698,$ of which $$1,450$ was for interest

d$.$ At the end of the second year, paid $$6,698,$ of which $$1,185$ was interest.

e$.$ Made the final payment of $$6,698,$ of which $$324$ was for interest