Question: Check my work 7 On January 1, 2017, Eagle borrows $29,000 cash by signing a four-year, 5% installment note. The note requires four equal payments




Check my work 7 On January 1, 2017, Eagle 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 2017 through 2020. Table B1, Ia provided. Round your intermediate calculations and final answers to the nearest dollar amount. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Table B.3, and Table B.4) (Use appropriate factor(s) from the tables 2 points Prepare the journal entries for Eagle to record the loan on January 1, 2017, and the four payments from December 31, 2017, through December 31, 2020 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, 2017. Jan 01, 2017 Journal entry worksheet Record the payment of the first installment payment of interest and principal on December 31, 2017 Dec 31, 2017 Clear entry Journal entry worksheet 2 5 Record the payment of the second installment payment of interest and principal on December 31, 2018. Book Print Note: Enter debits before credits. Date General Journal Debit Dec 31, 2018 Clear entry Journal entry worksheet 2 3 5 Record the payment of the third installment payment of interest and principal on December 31, 2019 ok nt Note: Enter debits before credits. nces Debit Credit Date General Journal Dec 31, 2019 Clear entry Journal entry worksheet Record the payment of the fourth installment payment of interest and principal on December 31, 2020 Dec 31, 2020 Clear entry
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