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Chapter 14 Problems Chapter Help Save & Submit 12 Exercise 14-17 installment note entries LU 61 Check my work On January 1, 2017, Eagle 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 2017 through 2020. Table B.1. Table B2 Table 8.3. and Table B4) (Use appropriate factor(s) from the tables provided. Round your answers to the nearest dollar amount.) 8.37 Prepare the journal entries for Eagle to record the loan on January 1, 2017, and the four payments from December 31, 2017, through December 31, 2020 eBook View transaction list Journal entry worksheet 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, 2017 Note: Enter debits before credits Date General Journal Debit Credit Jan 01, 2017 Chapter 14 Problems * Saved 12 Prepare the journal entries for Eagle to record the loan on January 1, 2017, and the four payments from De December 31, 2020. 3.37 points View transaction list eBook Journal entry worksheet Print 2 3 4 5 References Record the payment of the first installment payment of interest and principal on December 31, 2017. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general journal View transaction list Book Journal entry worksheet eBook Journal entry worksheet Print

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