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Cucina Corporation signed a new installment note on January 1,2021 , and deposited the proceeds of $56,100 in its bank note has a 3-year term,
Cucina Corporation signed a new installment note on January 1,2021 , and deposited the proceeds of $56,100 in its bank note has a 3-year term, compounds 5 percent interest annually, and requires an annual installment payment on Decembe Corporation has a December 31 year-end and adjusts its accounts only at year-end. Required: 1. Use an online application, such as the loan calculator with annual payments at mycalculators.com, to complete the amo schedule. 2. Prepare the journal entries on (a) January 1, 2021, and December 31 of (b) 2021, (c) 2022, and (d) 2023. 3. If Cucina Corporation's year-end were March 31, rather than December 31 , prepare the adjusting journal entry it would r note on March 31, 2021. Complete this question by entering your answers in the tabs below. Use an online application, such as the loan calculator with annual payments at mycalculators.com, to complete the amortization schedule. (Do not round intermediate calculations. Round final answers to nearest whole dollar.) Complete this question by entering your answers in the tabs below. Prepare the journal entries on (a) January 1, 2021, and December 31 of (b) 2021, (c) 2022, and (d) 2023. (Do not round intermediate calculations. Round final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the signing of the installment note on January 1 , 2021. 2 Record the installment payment on December 31, 2021. 3 Record the installment payment on December 31, 2022. 4 Record the installment payment on December 31, 2023. Complete this question by entering your answers in the tabs below. If Cucina Corporation's year-end were March 31 , rather than December 31 , prepare the adjusting journal entry it would make for this note on March 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the adjusting journal entry for this note on March 31, 2021
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