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has to be done on excel. please show calculations and formulas Part 2 - Installment note: 1. On January 1, 2019 National Company signed a
has to be done on excel. please show calculations and formulas
Part 2 - Installment note: 1. On January 1, 2019 National Company signed a $400,000, 10% installment note to be repaid with 6 equal annual installments to be first made on December 31, 2019, and every December 31 thereafter. REQUIRED: Determine the amount of each annual payment. b. Prepare an amortization table for this installment note. c. Prepare the journal entry for the issuance of the note and the first payment. IMPORTANT: You are to use four spreadsheets for the solutions to these two problems. The first sheet is for the Bond amortization table including the "Given" information and the determination of the value of the bond. The second sheet is for recording all of the journal entries for the bond. The third sheet is for the amortization table of the installment note including the "Given" information and the determination of the annual cash payments. The fourth sheet is for the journal entry for the installment note. You need to also label the tabs for each sheet properly Step by Step Solution
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