59:01 On January 1, $52,000 cash is borrowed from a bank in return for a 6% installment note with 24 monthly payments of $2,305 each. (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note. 2. Prepare the journal entry to record the first monthly interest payment. View transaction list Journal entry worksheet 1 2 Record the issuance of the note payable. Note: Enter debits before credits. Date General Journal Debit Credit January 011 On January 1, $52,000 cash is borrowed from a bank in return for a 6% installment note with 24 monthly payments of $2,305 each. (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note. 2. Prepare the journal entry to record the first monthly interest payment. View transaction list 49 Journal entry worksheet 1 3 Record the first installment payment. Note: Enter debits before credits. Date Debit Credit January 31 General Journal
