Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corp.s installment note that has original principal of $21,000, interest of 5% compounded annually, and a term of 3 years.

Welton Corp. 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 Corp.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 answers to nearest whole dollar amount.)

Journal entry worksheet 2 3 4 January 1, Year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journal Journal entry worksheet