2. The bonds were the market value per common share on this date was $9.10. Exercise 1 14-23 Installment note with payments of accrued interest and equal amounts of principal Lo CHECK FIGURE: b. Total interest expense = $11,250 On December 31, 2020, Sack Port Ventures Inc. borrowed $90,000 by signing a four-year, 5% installment The note requires annual payments of accrued interest and equal amounts of principal on December each year from 2021 through 2024. 972 CHAPTER 14 Bonds and Long-Term Notes Payable a. How much principal will be included in each of the four payments? b. Prepare an amortization table for this installment note like the one presented in Exhibit 14.18. at optrior for an installment note with payments of accrued interest and equal