On January 1,2024 , a company borrows cash from a local bank by issuing a note to be repaid in installments. The details of the installment note are provided below. Required: 1. Complete the amortization table based on the information above. 2. Prepare the journal entry for issuance of the note. 3. Prepare the journal entry for the first installment payment on December 31, 2024. 4. Prepare the journal entry for the second installment payment on December 31, 2025. 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect On January 1, 2024, a company borrows cash from a local bank by issuing a note to be repaid in installments. The details of the installment note are provided below. Loan amount Annual interest rate Number of years until maturity Annual payment amount Required: $300,000.007%4$88,568.44 1. Complete the amortization table based on the information above. 2. Prepare the journal entry for issuance of the note. 3. Prepare the journal entry for the first installment payment on December 31, 2024. 4. Prepare the journal entry for the second installment payment on December 31, 2025. Requirement 1: Amortization Schedule (Use cells A2 to B8 from the given information above to complete this question. All values should be shown as positive amounts.)