On January 1, 2024, Beaver Tours financed the purchase of a new building by borrowing $600,000 from
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On January 1, 2024, Beaver Tours financed the purchase of a new building by borrowing $600,000 from the bank using a 30-year, 6% note payable. Payments of $3,597.30 are due at the end of each month, with the first installment due on January 31, 2024. Record the issuance of the installment note payable and the first monthly payment.
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