On January 1, 2021, Norwood borrows $600,000 cash from a bank by signing a five-year Installment note bearing 8% interest. The note requires equal payments of $150,274 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: (6) Norwood borrows $600,000 cash by signing a five-year, 8% Installment note, (D) Record the first installment payment on December 31, 2021 (c) Record the second installment payment on December 31, 2022 bok Complete this question by entering your answers in the tabs below. rences RIS Reg 2 Complete an amortization table for this installment note. (Round your triterpediate calculations to the nearest dollar amount) Parod Ending Beginning Debit interest Debit Notes Credit Cust Date Balance Ending Balance Experise Payable 12312021 $800,000 497.720 1231/2022 497.726 387 270 12/31/2023 D387.270 267.975 12/31/2024 267.978 139.142 12/31/2025 139,142 (139,142) 139,142 0 Total Raq 2 > Reg Reg 2 Prepare journal entries to record the note's issuance and each of the first two payments. View transaction list Journal entry worksheet 1 2 Norwood borrows $600,000 cash by signing a five-year, 8% installment note. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry Vlow general Journal