8 of 13 -/10 E On July 1, 2020, Bonita Ltd. borrowed $16,000 by signing a two-year, 5% note payable. The note is payable in two annual instalments of $8,605 on June 30. The company records adjusting journal entries annually at year end on December 31. (a) Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, eg: 5,255) Annual Interest Period July 1, 20201 June 30, 2021 June 30, 2022 eTextbook and Media Cash Payment Interest Expense Reduction of Principal Principal Balance $