3 11.11 points eBook Ask Print On November 1, 2020, Norwood borrows $200,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note requires equal payments of $50,091 each year on October 31. Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (a) Accrued interest as of December 31, 2020 (the end of its annual reporting period). (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Req 1 Req 2A and 2B Complete an amortization table for this installment note. Note: Round your intermediate calculations to the nearest dollar amount. References Period Ending Date Beginning Balance Debit Interest Expense Debit Notes Payable Credit Cash Ending Balance 10/31/2021 $ 200,000 $ 16,000 $ 34,091 165,909 10/31/2022 165,909 13,273 36,818 10/31/2023 129,091 10,327 39.764 10/31/2024 89.327 7,146 42,945 129,091 89.327 46,382 10/31/2025 46.382 (46,382) 46.382 0 Total $ 304 $ 200,000 Req 2A and 28 >