FinanceCo lent $$8\mathrm{.}3$ million to Corbin Construction on January $1,2021,$ to construct a playground. Corbin signed a three$-$year, $5\%$ installment note to be paid in three equal payments at the end of each year. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

Prepare the journal entry for FinanceCo's lending the funds on January $1,2021.$

Prepare an amortization schedule for the three$-$year term of the installment note.

Prepare the journal entry for the first installment payment on December $31,2021.$

Prepare the journal entry for the third installment payment on December $31,2023.$

Complete this question by entering your answers in the tabs below.

Req $2$

Req $13$ and $4$

Prepare an amortization schedule for the three$-$year term of the installment note. $($Enter your answers in whole dollars.$)$

$\backslash$table$[[$Dec$.31,$Cash Payment,Effective Interest,$\backslash$table$[[$Decrease in$],[$Balance$]],\backslash$table$[[$Outstanding$],[$Balance$]]],[,,,,],[2021,,,,],[2022,,,,],[2023,,,,],[,,,,]]$