On January 1, Year 1, Bryson Compary obtained a $147,750, four-year, 7% ingtaliment note from Campbell Bank, The note requires annual payments of $43,620, beginnimg on Docember 31. Year 1. Required: A. Prepare an amorization table for this instawnent note, slmilar fo the one presented in Exhibit 4. B. Joumalure the entries for the issuance of the note and the four annua note payments. Be sure to inctude the year in the date for the entries Bofer to the Chart of Accounts for exacf wording of accourt thes. C. Describe how the annuat note payment would be reported in the Year 1 income statement. Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable 611 Gain on Redemption of Bonds 122 Allowance for Doubtful Accounts 126 Interest Receivable EXPENSES 127 Notes Receivable 510 Cost of Merchandise Sold 131 Merchandise Inventory 515 Credit Card Expense 141 Office Supplies 516 Cash Short and Over 142 Store Supplies 521 Sales Salaries Expense 151 Prepaid Insurance 522 Office Salaries Expense 191 Land 531 Advertising Expense 192 Store Equipment 532. Delivery Expense 193 Accumulated Depreciation-Store Equipment 533 Repairs Expense 194 Office Equipment 534 Selling Expenses 195 Accumulated Depreciation-Office Equipment 535 Rent Expense 536 Insurance Expense LIABILITIES 537 Office Supplies Expense 210 Accounts Payable 538 Store Supplies Expense Chart of Accounts Or 210 Accounts Payable De 221 Salaries Payable 538 Store Supplies Expense 231 Sales Tax Payable 541 Bad Debt Expense 232 Interest Payable 561 Depreciation Expense-Store Equipment 241 Notes Payable 562 Depreciation Expense-Office Equipment 251 Bonds Payable 590 Miscellaneous Expense 710 Interest Expense 252. Discount on Bonds Payable 253 Premium on Bonds Payable 711 Loss on Redemption of Bonds EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322. Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 inenme Summane down) to ensure the carring amount is zero at the end of the note tarm. Q. Joumakze the entries for the issewnce of the note and the four annual note payments. Fefer fo the Chist of Accoumis tor exact woroling of account biles. c. Describe how the annual note payment would be reported in the Year 1 income statement. Interest expense of would be reported on the income statement