On January $1,2024,$ Middling Company borrows $$30,000$ by agreeing to a $6\%,4-$year note with the bank. Payments of $$704\mathrm{.}55$ are due at the end of each month with the first installment due on January $31,2024.$

Required:

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