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Finance Co lent $10.0 million to Corbin Construction on January 1,2024, to construct a playground. Corbin signed a threeyear, 6% instalment note to be paid

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Finance Co lent $10.0 million to Corbin Construction on January 1,2024, to construct a playground. Corbin signed a threeyear, 6% instalment note to be paid in three equal payments at the end of each year. Required: 1. Prepare the journal entry for Finance Co's lending the funds on January 1, 2024. 2. Prepare an amortization schedule for the three-year term of the installment note. 3. Prepare the journal entry for the first instaliment payment on December 31, 2024. 4. Prepare the journal entry for the third installment payment on December 31, 2026. Note: Use Excel, or a financial calculator. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule for the three-year term of the installment note. Note: Round intermediate calculations and final answers to the nearest whole dollar

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