Entries for Installment Note Transactions On January 1 of Year 1, Bryson Company obtained a $47,000, four-year, 99 installment note from Campbell Bank. The note requires annual payments of $14,507, 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 Interest Expense January 1 Note Payment (9% of January 1 Decrease in December 31 For the Year Ending Carrying Amount (Cash Paid) Note Carrying Amount) Notes Payable Carrying Amount Year 1 - rear Year 3 1196 Year 4 0 d 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 24,000 X Notes Payable 5,698 X Year 1 Dec 31 Interest Expense Notes Payable Cash Year 2 Dec. 31 Interest Expense Notes Payable Cash III III III III III III III III Year 3 Dec. 31 Interest Expense Notes Payable Cash Year 4 Dec. 3 Interest Expense Notes Payable Cash 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