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Can somebody please help me with this accounting problem? I have attached the question and the template in which the answer is supposed to be

Can somebody please help me with this accounting problem? I have attached the question and the template in which the answer is supposed to be completed in. Thank you image text in transcribed

Year Ending

A

Beginning Carrying Amount

(January 1)

B

Note Payment

(Cash Paid)

(SEE NOTE)

C

Interest Expense

D

Decrease in Notes Payable Carrying Amount

Column B - C

E

Ending Carrying Amount

December 31

Column A - D

NOTE: EQUAL installments (payments). Each installment has an interest and principal component. The lender (who you are paying back) receives interest (for giving you the loan) and some of the money you borrowed (the carrying amount or principal amount of the original loan) with each payment you send them. This schedule shows how much of each payment will be applied for each payment made.

OBJ.4 EX 14-12 Entries for installment note transactions On January 1, Year 1, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires annual payments of $43,620, beginning on December 31, Year 1. a. Prepare an amortization table for this installment note, similar to the one presented in Exhibit 4. Round to nearest dollar. b. Journalize the entries for the issuance of the note and the four annual note payments. c. Describe how the annual note payment would be reported in the Year 1 income statement

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