On December 31, 20x4, the an entity took out a 5%, $900,000 bank loan. The loan is repayable over 4 years at equal annual repayments of $253,811 on December 31 of each year. The first payment is due on December 31, 20x5 and the last payment is due on December 31, 20x8. Required - a. Prepare an amortization schedule for this loan b. Prepare the journal entry at December 31, 20x7 to record the annual payment