NEXT HT RESOURCES Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $12,000 on November 1, 2020, for a period of 3 years at a 5% Interest rate. The terms provide for flored principal payments of $2,000, on May 1 and November 1 of each year plus 6 months of interest. Your answer is partially correct. Try again. sults by Study Prepare a payment schedule for the life of the note. (If answer is o, please enter 0. Do not leave any fields bank.) Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Nov. 2020 Totals 12.000 MacBook Air Your answer is partially correct. Try again Prepare the journal entry for the purchase of the oven and the issue of the note payable on November 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Now it IT 17,000/1 5,000 12,000 1 Notes Payable Your answer is partially correct. Try again, by Study Prepare the journal entries on May 1 and November 1 for the note. Assume interest was accured at October 31. year end. (Credit account titles are automatically inde is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 1 May 1, 2021 Pinterest Expense Notes Payable r cash Nov. 1, 20210 interest Expense Notes Payable Cash 250 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEKT