OBJ.4 PE 14-8A Journalizing installment notes On the first day of the fiscal year, a company issues $65,000, 6%, five-year installment notes that have annual payments of $15,431. The first note payment consists of $3,900 of interest and $11,531 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. b. Journalize the first annual note payment. PE 14-8B Journalizing installment notes OBJ. 4 On the first day of the fiscal year, a company issues $45,000, 8%, six-year installment notes that have annual payments of $9,734. The first note payment consists of $3,600 of interest and $6,134 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. b. Journalize the first annual note payment