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Required Information Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On January 1, 2021, Eagle
Required Information Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On January 1, 2021, Eagle Company borrows $29,000 cash by signing a four-year, 5% Installment note. The note requires four equal payments of $8.178, consisting of accrued Interest and principal on December 31 of each year from 2021 through 2024. Exercise 14-13 (Algo) Installment note entries LO C1 Prepare the journal entries for Eagle to record the note's Issuance and each of the four payments. Note: Round your Intermediate calculations and final answers to the nearest dollar amount. View transaction Mat Journal entry worksheet 1 2 2 4 5 Eagle borrows $29,000 cash by signing a four-year 5% installment note. Record the issuance of the note on January 1, 2021. Date January 01, 2021 General Journal Debit Credit
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