Question: Help On January 1, 2018, Eagle borrows $18,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $5,556, consisting





Help On January 1, 2018, Eagle borrows $18,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $5,556, consisting of accrued interest and principal on December 31 of each year from 2018 through 2021. Table 81, Table 8.2 Table 8.3, and Table 8.4) (Use appropriate factor(s) from the tables 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.) Prepare the journal entries for Eagle to record the loan on January 1, 2018, and the four payments from December 31, 2018, through December 31, 2021 Journal entry worksheet Eagle borrows $18,000 cash by signing a four-year, 996 installment note Record the issuance of the note on January 1, 2018. Debitc K Prey 6 of 6E Next Journal entry worksheet 4 Eagle borrows $18,000 cash by signing a four-year, 996 installment note. Record the issuance of the note on January 1, 2018. debits before credits Date Debit Credit General Journal Jan 01, 2018 View general journal Record entry search Journal entry worksheet 2 Record the payment of the first installment payment of interest and principal on December 31, 2018. Note: Enter debits before credits. Debit Credit General Journal Date Dec 31, 2018 o search Journal entry worksheet 2 Record the payment of the second installment payment of interest and principal on December 31, 2019. Debit Credit General Journal Date Dec 31, 2019 Clear entry Record entry e to search Journal entry worksheet 2 2 3 Record the payment of the fourth installment payment of interest and principal on December 31, 2021. General Journal Debit Credit Date Dec 31, 2021 Clear entry Record entry Next>
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