Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corporation's installment note that has original principal of $25,000, interest of 6 percent compounded annually, and a term of 3 years. Welton Corporation established the note on the first day of its fiscal year and will fully repay the note by the end of year 3 on its December 31 fiscal year-end. Prepare Welton Corporation's journal entries on (a) January 1, Year 1; (b) December 31, Year 1; (c) December 31, Year 2; and (d) December 31, Year 3. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) View transaction list View journal entry worksheet No Transaction General Journal 1 (a) Cash Notes Payable (long-term) 2 (b) Interest Expense 3 Notes Payable (long-term) Cash (c) Interest Expense Notes Payable (long-term)) Cash Debit Credit 25,000 25,000 View transaction list View journal entry worksheet No Transaction General Journal Debit. 1 (a) Cash 25,000 Notes Payable (long-term) 2 (b) Interest Expense 3 4 Notes Payable (long-term) Cash (c) Interest Expense Notes Payable (long-term) Cash (d) Interest Expense Notes Payable (long-term) Cash Credit 25,000