If you could explain how you did it, I would appreciate it.

Recording Entries for an Installment Note Payable On January 1 of Year 1 , a borrower signed a long-term note, face amount of $340,000; time to maturity is three years; stated rate of 8%. The market rate is 10%. The note will be paid in three equal annual installments of $131,930 on each December 31 (which is the accounting year-end for the borrower). Required Note: Round your answer to the nearest whole dollar. a. Compute the cash received by the borrower. b. Prepare a debt amortization schedule. Note: Round each amount in the table to the nearest whole dollar. Note: Use a negative sign for the "Reduction in N.P." amounts. c. Provide the required entries for the borrower for the issuance of the note on January 1 , Year 1, and the interest payments on December 31 of Year 1, Year 2, and Year 3. Note: Round your answer to the nearest whole dollar