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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

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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 $23,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $7,099, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Exercise 14-12 (Algo) Installment note amortization table LO C1 Prepare an amortization table for this instaliment note. (Round all amounts to the nearest whole dollar.) Eagle borrows $23,000 cash by signing a four-year, 9% installment note. Record the issuance of the note on January 1, 2021. Note: Enter debits before credits. Record the payment of the first installment payment of interest and principal on December 31,2021. Note: Enter debits before credits. Record the payment of the second installment payment of interest and principal on December 31, 2022. Note: Enter debits before credits. Record the payment of the third installment payment of interest and principal on December 31,2023. Note: Enter debits before credits. Record the payment of the fourth installment payment of interest and principal on December 31, 2024. (Hint: Make sure that the balance in Notes payable is $0 after this entry.) Note: Enter debits before credits

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