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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
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 10-13 (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 calculati." and final answers to the nearest dollar amount. Journal entry worksheet Eagle borrows $29,000 cash by signing a four-year, 5% installment note, Record the issuance of the note on January 1,2021 . Note: Ener debits before credits
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