4) (40 Points) On January 1, Year 1 a company borrowed $70,000 cash by signing a 9% installment note that is to be repaid with 4 annual year-end payments of $21,607, the first of which is due on December 31, Year 1. (a) Prepare an installment loan amortization table for this note Loan Balance, Interest Beginning Expense Principal Payment Cash Payment Loan Balance, Ending Payment Date 12/31 Yr1 12/31 Yr 2 12/31 Yr3 12/31 Yr 4 (b) Prepare the journal entries to record the first and second installment payments. Debit Credit Date General Journal