On January 1, 2021, Norwood borrows $420,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $99,706 each year on December 31. Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (a) Norwood borrows $420,000 cash by signing a five-year, 6% installment note. (b) Record the first installment payment on December 31, 2021. (c) Record the second installment payment on December 31, 2022. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Period Ending Date Beginning Balance Debit Interest Expense 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Total Debit Notes Payable Credit Cash. Ending Balance Req 1 Req 2 Prepare journal entries to record the note's issuance and each of the first two payments. View transaction list 1 Norwood borrows $420,000 cash by signing a five-year, 6% installment note. nt note. 2 Record the first installment payment on December 31, i 2021. 3 Record the second installment payment on December 31, 2022. Credit