On January 1, 2024, Evanston Corporation borrowed $4 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $1,552,134 on December 31 of each year. The payments include interest at a rate of 8%. Problem 9-2A (Algo) Part 1 Required: . Record the cash received when the note is issued. (If no entry is required for a particular transaction/event, select "No Journal entry Required" in the first account field. Enter your answer in dollars, not millions (i.e., $5.5 million should be entered as 5,500,000) Problem 9-2A (Algo) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Evanston Corporation borrowed $4 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $1,552,134 on December 31 of each year. The payments include interest at a rate of 8%. Problem 9-2A (Algo) Part 2 2. Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the nearest dollar mount.)