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Current Attempt in Progress On January 1, 2024, Crane Corp. borrows $15,000 by signing a 3-year, 6% note payable. The note is repayable in three annual fixed principal payments on December 31 of each year. (a)

On January 1, 2024, Crane Corp, borrows $15,000 by signing a 3-year, 6% note payable. The note is repayable in three annual fixed principal payments on December 31 of each year. Prepare journal entries to record the note and the first instalment payment. (List all debit entries before credit entries, Credit occount tities are automatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts, Record joumal entries in the order presented in the problem.)