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On January 1, 2021. Corvallis Camivals borrows $29,000 to purchase a delivery truck by agreeing...

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Accounting

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On January 1, 2021. Corvallis Camivals borrows $29,000 to purchase a delivery truck by agreeing to a 6%, four-year loan with the bank. Payments of $681.07 are due at the end of each month, with the first installment due on January 31, 2021 Record the issuance of the note payable and the first monthly payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round your intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet Record the issuance of the note Note: Enter debits before Date January 01 2001 Journal entry worksheet Record the first monthly payment. Note: Enter debits before credits. General Journal Debit Credit Date January 31 2021 Record entry Clear entry View general journal

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