On January 1, 2024, Tropical Cruise Lines borrows $49,000 by agreeing to a 6%, five-year note with the bank. Loan payments of $947.31 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.)