(a)Prepare journal entries for the following dates. If there's no transaction, put "No Transaction." Alta Wind Farms has a calendar year-end and prepares its financial statements on December 31 each year.

(b) Calculate the required quarterly payment for the mortgage. (Round answer to the nearest 2 decimal places if necessary)

(c) Prepare the mortgage amortization schedule, showing how the loan will be fully amortized by its maturity . (Show answers to decimal places) Use the template below.

(d) Prepare journal entries to record the following:

- Second quarterly payment

- Entries for maturity of the mortgage

QUESTION 1 Ita Wind Farms borrowed $1,000,000 from a local bank to obtain funds needed for the construction of several new wind turbines. This loan was represented by a 2 -year, 7%, promissory note, dated April 1,2020 . Interest (only) is ayable annually and the principal is due in lump sum at maturity. Alta Wind Farms repaid the promissory note at maturity, as agreed. in April 1, 2022, Alta Wind Farms secured a permanent 5-year mortgage totaling $1,200,000. This borrowing was at 6% per annum, and requires fixed quarterly payments so that the mortgage will be completely repaid at its iaturity