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 $21,000 cash by signing a four-year, 5% installment note. The note requires four equal payments of $5,922, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024.

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Exercise 10-13 (Algo) Installment note entries LO C1

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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.

(1) Required informetion Use the following information for the Exercises below. (Algo) The following information applies to the quesnons displayed beliow] On January 1, 2021, Eaple Company borrows $21,000 cath by sigring a four-yeat, 5% instaliment note. The note requires four equal payments of $5,922, consesting of accrued interest and principal on December 3 of each year from 2021 trough 2024 Exercise 10-13 (Algo) Installment note entries LO C1 Prepare the joumat entros for Eagle to record the note's issuance and each of the four payments: Note: Round your intermediate celculations and final anwwers to the nearest dollat amount Journal entry worksheet 20 Eagle borrows $21,000 cash ty daning a four year, 5% installenent note. Hecord the istuace of the note on Janiary 1, 2021 . Hete: forer dibets tefore oredes