Required information [The following information applies to the questions displayed below.] On January 1, 2021, Eagle Company borrows $19,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $5,737, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Prepare the journal entries for Eagle to record the note's issuance and each of the four payments. Note: Round your intermediate calculations and final answers to the nearest dollar amount. View transaction list Journal entry worksheet < 1 2 3 4 Note: Enter debits before credits. 5 Eagle borrows $19,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2021.
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Eagle Company borrows $19,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $5,737, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Prepare the journal entries for Eagle to record the note's issuance and each of the four payments. Note: Round your intermediate calculations and final answers to the nearest dollar amount. View transaction list Journal entry worksheet < 1 2 3 4 Note: Enter debits before credits. 5 Eagle borrows $19,000 cash by signing a four-year, 8% installment note. Record the issuance of the note on January 1, 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Alpesh
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Required information
[The following information applies to the questions displayed below.]
On January 1, 2021, Eagle Company borrows $19,000 cash by signing a four-year, 8% installment note. The note requires
four equal payments of $5,737, consisting of accrued interest and principal on December 31 of each year from 2021
through 2024.
Prepare the journal entries for Eagle to record the note's issuance and each of the four payments.
Note: Round your intermediate calculations and final answers to the nearest dollar amount.
View transaction list
Journal entry worksheet
1
2
3
Date
Note: Enter debits before credits.
4
Eagle borrows $19,000 cash by signing a four-year, 8% installment note.
Record the issuance of the note on January 1, 2021.
5
General Journal
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa5300407-48a8-4262-acd6-c4a7cf0c2902%2Fef485680-d3e6-406e-b650-3d7070b0f8ea%2Fxco2uf_processed.jpeg&w=3840&q=75)
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Required information
[The following information applies to the questions displayed below.]
On January 1, 2021, Eagle Company borrows $19,000 cash by signing a four-year, 8% installment note. The note requires
four equal payments of $5,737, consisting of accrued interest and principal on December 31 of each year from 2021
through 2024.
Prepare the journal entries for Eagle to record the note's issuance and each of the four payments.
Note: Round your intermediate calculations and final answers to the nearest dollar amount.
View transaction list
Journal entry worksheet
1
2
3
Date
Note: Enter debits before credits.
4
Eagle borrows $19,000 cash by signing a four-year, 8% installment note.
Record the issuance of the note on January 1, 2021.
5
General Journal
Debit
Credit
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