Question: -8 p.690 PE 14-8A Journalizing installment notes OBJ. 4 On the first day of the fiscal year, a company issues $65,000, 696, five- notes that

-8 p.690 PE 14-8A Journalizing installment notes OBJ. 4 On the first day of the fiscal year, a company issues $65,000, 696, five- notes that have annual payments of $15,431. The first note payment consi interest and $11,531 of principal repayment a. Journalize the entry to record the issuance of the installment notes. b. Journalize the first annual note payment. year installment sts of $3,900 of OBI. 4

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