Book Hint Print ferences FinanceCo lent $8.2 million to Corbin Construction on January 1, 2021, to...

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Book Hint Print ferences FinanceCo lent $8.2 million to Corbin Construction on January 1, 2021, to construct a playground. Corbin signed a three-year, 7% installment note to be paid in three equal payments at the end of each year (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for FinanceCo's lending the funds on January 1, 2021 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the journal entry for the first installment payment on December 31, 2021. 4. Prepare the journal entry for the third installment payment on December 31, 2023 Complete this question by entering your answers in the tabs below. Req 2 Req 1 3 and 4 Prepare an amortization schedule for the three-year term of the installment note. (Enter your answers in whole dollars.) Dec. 31 Cash Payment Effective Interest Decrease in Balance Outstanding Balance Book Hint Print ferences FinanceCo lent $8.2 million to Corbin Construction on January 1, 2021, to construct a playground. Corbin signed a three-year, 7% installment note to be paid in three equal payments at the end of each year (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for FinanceCo's lending the funds on January 1, 2021 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the journal entry for the first installment payment on December 31, 2021. 4. Prepare the journal entry for the third installment payment on December 31, 2023 Complete this question by entering your answers in the tabs below. Req 2 Req 1 3 and 4 Prepare an amortization schedule for the three-year term of the installment note. (Enter your answers in whole dollars.) Dec. 31 Cash Payment Effective Interest Decrease in Balance Outstanding Balance