On January 1, 2019, Eagle Company borrows $23,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $7,099, consisting of accrued interest and principal on December 31 of each year from 2019 through 2022. Prepare the journal entries for Eagle to record the note's issuance and the four payments

See below

Explanation:

January 01, 2019

Cash Dr $23,0000

Notes payable Cr $23,000

December 31, 2019

Interest expense Dr $2,070

($23,000 × 9%)

Notes payable Dr $5,029

Cash Cr. $7,099

December 31, 2020

Interest expense Dr $1,617

($23,000 - $5,029) × 9%

Notes payable Dr $5,082

Cash Cr $7,099

December 31, 2021

Interest expense Dr $1,160

($23,000 - $5,029 - $5,082) × 9%

Notes payable Dr $5,939

Cash Cr $7,099

December 31, 2022

Interest expense Dr $626

($23,000 - $5,029 - $5,082 - $5,939) × 9%

Note payable Dr $6,473

Cash Cr $7,099

eds? ederal government or feds

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )