i really need this question urgently. time limit for my test is 35 minutes. can anyone solve it pls

1 No Spac... Heading Heading 2 Title 1 Normal Replace Select .** Prore Editing Paragraph Styles only. Please put your full name and student number on your answer sheet(s). Question 1 (17 marks) On January 1, 2021, Crane Corp. borrows $21,600 by signing a 3-year, 9% note payable. The note is repayable in three annual fixed principal payments on December 31 of each year. 1. Prepare an installment payment schedule for the note. (12 marks) 2. Prepare the journal entry to record the note on January 1, 2021 (2 marks). 3. Prepare the journal entry to record the first installment payment on December 31, 2021. (3 marks) Interest period cash payment interest expense reduction of principal principal balance Jan 1 $21600 Dec 31 $7200 14400