Question: 3 Exercise 10-13 Installment note entries LO C1 nts On January 1, 2019, Eagle Company borrows $21,000 cash by signing a four-year, 5% installment note.

3 Exercise 10-13 Installment note entries LO C1 nts On January

3 Exercise 10-13 Installment note entries LO C1 nts On January 1, 2019, 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 2019 through 2022. Prepare the journal entries for Eagle to record the note's issuance and the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) eBook View transaction list Hint Journal entry worksheet Ask eferences Eagle borrows $21,000 cash by signing a four-year, 5% installment note. Record the issuance of the note on January 1, 2019. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2019 Record entry Clear entry View general journal

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