On January 1, 2021, Norwood borrows $580,000 cash from a bank by signing a five-year instaliment note bearing 5% interest. The note requires equal payments of $133,965 each year on December 31 . Required: 1. Complete an amortization table for this instailment note. 2. Prepare the journal entries in which Norwood records the following: (a) Norwood borrows $580,000 cash by signing a five-year, 5% 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