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  3. on january 1,2024, tropical cruise lines borrows $

On January 1,2024, Tropical Cruise Lines borrows $31,000 by agreeing to a 6%, six-year note...

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Accounting

On January 1,2024, Tropical Cruise Lines borrows $31,000 by agreeing to a 6%, six-year note with the bank. Loan payments of $513.76 are due at the end of each month with the first installment due on January 31,2024.
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. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
\table[[,No,Date,,General Journal,Debit,Credit],[0,1,January 01,2024,Cash,,31,000.00,],[,,Notes Payable,Sing,,31,000.00
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