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On January 1,2021. Norwood borrows $410,000 cash from a bank by signing a five-year installment note bearing 9% interest. The note requires equal payments of

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On January 1,2021. Norwood borrows $410,000 cash from a bank by signing a five-year installment note bearing 9% interest. The note requires equal payments of $105,407 eachyear on December 31 Required: 1. Complete an amortzation table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (o) Norwood borrows $410,000 cash by signing a five-year, 9% instailment note. (b) Record the first instaliment payment on December 31, 2021 (c) Record the second instaliment payment on December 31, 2022 Complete this question by entering your answers in the tabs below. Complete an amortization table for this instaliment note. Note: Pound your intermediate calculations to the nearest dollar amount

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