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Business, 20.12.2019 02:31 dontworry48

On january 1, 2015, tropical paradise borrows $50,000 by agreeing to a 6%, six-year note with the bank. the funds will be used to purchase a new bmw convertible for use in promoting resort properties to potential customers. loan payments of $828.64 are due at the end of each month with the first installment due on january 31, 2015.

required:
record the issuance of the installment note payable and the first two monthly payments. (do not round intermediate calculations. round your final answers to 2 decimal places.)

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