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On January 1, 2021, Norwood borrows $510,000 cash from a bank by signing a five-year Installment note bearing 9% Interest. The note requires equal payments

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On January 1, 2021, Norwood borrows $510,000 cash from a bank by signing a five-year Installment note bearing 9% Interest. The note requires equal payments of $131,116 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 $510,000 cash by signing a five-year, 9% 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. The followng information is avallable for both Pulaski Company and Scott Company at the current year-end. Required: 1. Compute the debt-to-equlty ratlo for both companies. 2 Which company has the riskler financing structure? Complete this question by entering your answers in the tabs below. Compute the debt-to-equity ratio for both companies

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