On December 31, 2020, Sack Port Ventures Inc. borrowed $91,000 by signing a four-year, 5.5% installment note. The note requires annual payments of accrued interest and equal amounts of principal on December 31 of each year from 2021 through 2024. a. How much principal will be included in each of the four payments? Amount of principal in each payment b. Prepare an amortization table for this installment note. (Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Payments Year Beginning Interest Notes Ending Balance Expense Payable Cash Ending Balance 2021 2022 2023 2024 Check m c. Prepare journal entries that Sack Port Ventures Inc. would make to record the loan on December 31, 2020, and the four payments starting on December 31, 2021, through the final payment on December 31, 2024. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the borrowal of $91,000 by signing a 5.5% installment note. Note: Enter debits before credits. Date December 31, 2020 General Journal Debit Credit