[L04-6][CO4jClass eBook 3 Show Me How Calculator Entries for Installment Note Transactions On January 1, Year 1, Bryson Company obtained a $36,000, four-year, 8% installment note from Campbell Bank. The note requires annual payments of $10,869, beginning on December 31, Year 1. a. Prepare an amortization table for this installment note, similar to the one presented in Exhibit 4. Note: Round the computation of the interest expense to the nearest whole dollar. Enter all amounts as positive numbers. In Year 4, round the amount in the Decrease in Notes Payable column either up or down to ensure that the carrying Amount zeroes out. Amortization of Installment Notes Year Interest Expense Ending (8% of January 1 December 31 January 1 Note Payment Decrease in December Note Carrying Carrying Carrying Amount (Cash Paid) Notes Payable Amount) Amount Year 1 Year 2 Year 3 Year 4 Feedback Check My Work Review Exhiba 4 in the text. The cash payment is the same in each year. The interest and principal repayment, however, charge each year. This is because the carrying amount ook value of the noin decreases each year as principal is repaid, which decreases the interest Previous Next > Check My Work Save and Exit Submit Assignment for Grading All work saved. signment Score: 78.44%