Exercise 9-2 (Algo) Record installment notes (LO9-2) On January 1, 2024, Royal Paradise borrows $42,000 by agreeing to a 5%, four-year note with the bank. Loan payments of $967.23 are due at the end of each month with the first installment due on January 31, 2024 Required: Record the issuance of the installment note payable and the first two monthly payments. (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of a note payable. < 1 2 3 Record the first monthly payment. Note: Enter debits before credits. Date General Journal Debit Credit January 31, 2024 Interest Expense Notes Payable Cash Record entry Clear entry View general journal > < 1 2 3 Record the second monthly payment. Note: Enter debits before credits. Date February 29, 2024 General Journal Debit Credit Record entry Clear entry View general journal