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$0\mathrm{.}37$

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Time Remaining $3$ hours $36$ minutes $24$ seconds $03$:$36$:$24$

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Time Remaining $3$ hours $36$ minutes $24$ seconds $03$:$36$:$24$

On January $1,2024,$ Corvallis Carnivals borrows $$30,000$ to purchase a delivery truck by agreeing to a $5\%,$ five$-$year loan with the bank. Payments of $$566\mathrm{.}14$ are due at the end of each month, with the first installment due on January $31,2024.$

Record the issuance of the installment note payable and the first monthly payment. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round your final answers to $2$ decimal places.$)$