Question: On December 1, 2024, Bevis Services signed a 5% notes payable for $30,000. It is payable over a 5-year term in $6,000 principal installments on

On December 1, 2024, Bevis Services signed a 5% notes payable for $30,000. It is payable over a 5-year term in $6,000 principal installments on December 1 of each yea beginning December 1, 2025. Which of the following entries needs to be made on December 1, 2024?

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