On January 1, 2017, Eagle borrows $26,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,850, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020. (Round your intermediate calculations and final answers to the nearest dollar amount.) Prepare the journal entries for Eagle to record the loan on January 1, 2017, and the four payments from December 31, 2017, through December 31, 2020.

Astudent was asked to draw a demand and supply graph to illustrate the effect on the market for premium bottled water of a fall in the price of electrolyteselectrolytes used in some brands of premium bottled​ water, holding everything else constant. she drew the graph to the right and explained it as​ follows: ​"electrolyteselectrolytes are an input to some brands of premium bottled​ water, so a fall in the price of electrolyteselectrolytes will cause the supply curve for premium bottled water to shift to the right​ (from upper s 1s1 to upper s 2 right parenthesis .s2). because this shift in the supply curve results in a lower price left parenthesis upper p 2 right parenthesis commap2, consumers will want to buy more premium bottled water and the demand curve will shift to the right​ (from upper d 1d1 to upper d 2 right parenthesis .d2). we know that more premium bottled water will be​ sold, but we​ can't be sure whether the price of premium bottled water will rise or fall. that depends on whether the supply curve or the demand curve has shifted farther to the right. i assume that the effect on supply is greater than the effect on​ demand, so i show the final equilibrium price left parenthesis upper p 3 right parenthesisp3 as being lower than the initial equilibrium price left parenthesis upper p 1 right parenthesis .p1.​" where is the flaw in the​ student's argument? supply will shift inward. demand will not shift. demand will shift inward.