Bramble Inc. financed the purchase of equipment costing $$83,000$ on January $1,2023,$ using a note payable. The note requires Bramble to make annual $$23,407$ payments of blended interest and principal on January $1$ of the following four years, beginning January $1,2024.$ The note bears interest at the rate of $5\%.$

Click here to view the factor table. Click here to view the factor table.

Prepare the debt amortization schedule for the note over its term. $($Round answers to $0$ decimal places, eg $5,275.)$

$$

Prepare the journal entries that are required for the year ended December $31,2023,$ and the first instalment payment on January $1,2024.($Round answers to $0$ decimal places, eg$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$$

Prepare the SFP presentation of the note at December $31,2023($include both the current and long$-$term portions$),$ and any interest outstanding. $($Round answers to $0$ decimal places, eg$.5,275.)$

BRAMBLEINC.

Statement of Financial Position $($Partial$)$