On January 1, $42,000 cash is borrowed from a bank in return for a 10% installment note with 36 monthly payments of $1,355 each. Prepare an amortization table for the first three months of this installment note.

On January 1,$42,000 cash is borrowed from a bank in return for a 10% installment note with 36 monthly payments of $1,355 each. - Prepare an amortization table for the first three months of this installment note. - Record the entry for issuance of the note and the first two interest payments