EX$.09\mathrm{.}01$

BE$\mathrm{.}09\mathrm{.}08.$ALGO

BE$.09\mathrm{.}01$

BE$\mathrm{.}09\mathrm{.}01.$ALGO

BE$\mathrm{.}09\mathrm{.}02.$ALGO

BE$\mathrm{.}10\mathrm{.}08.$ALGO

BE$\mathrm{.}10\mathrm{.}06.$ALGO

EX$\mathrm{.}09\mathrm{.}03.$ALGO

BE$\mathrm{.}09\mathrm{.}05.$ALGO

EX$.09\mathrm{.}02$

BE$\mathrm{.}09\mathrm{.}07.$ALGO

EX$\mathrm{.}10\mathrm{.}02.$ALGO

BE$\mathrm{.}10\mathrm{.}01.$ALGO

EX$.09\mathrm{.}04$

Journalizing installment notes

On the first day of the fiscal year, a company issues $$45,000,8\%,$ seven$-$year installment notes that have annual payments of $$8,643.$

The first note payment consists of $$3,600$ of interest and $$5,043$ of principal repayment.

a$.$ Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank.

$$

$$

$$

$$

$$

b$.$ Journalize the first annual note payment. If an amount box does not require an entry, leave it blank.

$$

$$

$$

$$

$$

$$

$$

Accounts Payable

Bonds Payable

Cash

Interest Expense

Notes Payable