I just need part b please

On July 1, 2020, Sheffield Ltd. borrowed $20,500 by signing a two-year, 5% note payable. The note is payable in two annual instalments of $11.025 on June 30. The company records adjusting journal entries annually at year end on December 31. (a) Your answer is correct. Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, e.g. 5,255.) Annual Interest Period July 1. Cash Payment Interest Expense Reduction of Principal Princip $ 2020 $ 11025 $ 1025 $ 10000 June 30. 2021 June 30, 2022 11025 525 10500 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Record (1) the receipt of the $20,500 cash and the issue of the note on July 1, 2020; (2) the accrual of interest on December 31, 2020; (3) the first payment on June 30, 2021; and (4) the accrual of interest on December 31, 2021. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Date 2020 Credi