5) ABC Company borrows $525,000 on March 1st, 2014, The interest rate is 6% annual,The note is to be paid back in 15 equal annual installments of $54 1st, 2015. ,200 beginning on March Required: Prepare the journal entry to record the issuance of the note on March 1t, 2014 and prepare the first 3 journal entries to record the note payments for 2015, 2016, and 2017. (Remember: The payment amounts will be the same each year. Use the equal (mortgage) payments method that was discussed as the second example in the chapter). 70/ io