Use the following information for the Exercises below. (Static ) The following information applies to the questions displayed below .] On January 1 , 2020, Eagle Company borrows $100,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $29,523 , consisting of accrued interest and principal on December 31 of each year from 2020 through 2023 . Exercise 10-13 ( Static ) Installment note entries LO C1 Prepare the journal entries for Eagle to record the note's issuance and each of the four payments . (Round your intermediate calculations and final answers to the nearest dollar amount .) View transaction list Journal entry worksheet 1 2 3 4 5 Eagle borrows $100,000 cash by signing a four -year , 7% installment note . Record the issuance of the note on January 1, 202 .

Required information Use the following information for the Exercises below. (Static) The following information applies to the questions displayed below) On January 1, 2020, Eagle Company borrows $100,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $29,523, consisting of accrued interest and principal on December 31 of each year from 2020 through 2023 Exercise 10-13 (Static) Installment note entries LO C1 Prepare the journal entries for Eagle to record the note's issuance and each of the four payments. (Round your intermediate calculations and final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 3 4 5 > Journal entry worksheet Eagle borrows $100,000 cash by signing a four-year, 7% installment note. Record the issuance of the note on January 1, 2020. Note: Enter debits before credits Date General Journal Debit Credit Jan 01, 2020 Record entry Clear entry View general journal View transaction list Journal entry worksheet ipped 1 2 4 5 > -Book Record the payment of the first installment payment of interest and principal on December 31, 2020. Hint Print Note: Enter debits before credits erences Debit Credit General Journal Date Dec 31, 2020 View general journal Record entry Clear entry Journal entry worksheet Journal entry worksheet