Exercise 9-2A Record installment notes (LO9-2) On January 1, 2021, Tropical Paradise borrows $50,000 by agreeing to a 6%, six-year note with the bank. The funds will be used to purchase a new BMW convertible for use in promoting resort properties to potential customers. Loan payments of $828.64 are due at the end of each month with the first installment due on January 31, 2021. 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.) No General Journal Debit Credit 1 Date January 01, 2021 Cash Notes Payable 50,000.00 50,000.00 2 250.00 January 31, 2021 Interest Expense Notes Payable Cash 578.64 OOO OOO 828.64 3 February 28, 202 Interest Expense Notes Payable Cash 248.75 X 579.89 X 828.64