Entries for Installment Note Transactions On January 1 of Year 1, Bryson Company obtained a $55,000, four-year, 11% installment note from Campbell Bank. The note requires annual payments of $17,728, beginning on December 31 of Year 1. a. Prepare an amortization table for this installment note, similar to the one presented in Exhibit 4. Round the computation of the interest expense to the nearest whole dollar. Enter all amounts as positive numbers. Amortization of Installment Notes January 1 Carrying Amount Note Payment (Cash Paid) Interest Expense (11% of January 1 Note Carrying Amount) Decrease in Notes Payable December 31 Carrying Amount For the Year Ending Year 1 $ Year 2 Year 3 Year 4 b. Journalize the entries for the issuance of the note and the four annual note payments. If an amount box does not require an entry, leave it blank. Year 1 Jan. 1 Cash Notes Payable Year 1 Dec. 31 21 Interest Expense Notes Payable Cash C O Year 2 Dec. 31 Interest Expense Notes Payable Cash II III III III IDD Year 3 Dec. 31 Interest Expense Notes Payable Cash Year 4 Dec. 31 4 Der 31 Interest Expense Notes Payable Cash Feedback Check My Work c. How will the annual note payment be reported in the Year 1 income statement? Interest expense of $ would be reported on the income statement