On January $1$ of Year $1,$ Bryson Company obtained a $$69,000,4-$ year, $9\%$ installment note from Campbell Bank. The note requires annual payments of $$21,298,$ beginning on December $31$ of Year $1.$

a$.$ Prepare a table for this installment note, similar to the one presented in Exhibit $4.$ Enter all amounts as positive numbers. $($Note: Due to rounding, the Year $4$ Interest expense is provided.$)$ Round the computation of the interest expense to the nearest whole dollar. If an amount box does not require an entry, leave it blank.

Amortization of Installment Notes

b$.$ Journalize the entries for the issuance of the note and the four annual note payments. If an amount box does not require an entry, leave it blank.

Snow Me How

b$.$ Journalize the entries for the issuance of the note and the four annual note payments. If an amount box does not require an entry, leave it blank.

Year $1$ Jan. $1$

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Year $1$ Dec. $31$

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Year $2$ Dec. $31$

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Year $3$ Dec. $31$

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Year $4$ Dec. $31$

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c$.$ How will the annual note payment be reported in the Year $1$ income statement?

$$ of $ would be reported on the income statement.