On July 1, 2020, Bramble Ltd borrowed $11.000 by signing a two-year, 6% note payable. The note is payable in two annual instalments of $6,000 on June 30. The company records adjusting journal entries annually at year end on December 31. Your answer is correct, Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollars. 5.255) Annual Interest Period July 1 2020 Cash Payment Interest Expense Reduction of Principal Principal B000 5340 30, 2021 June 30, 2022 6000 340 5660 Record (1) the receipt of the $11,000 cash and the issue of the note on July 1, 2020; (2) the accrual of interest on December 31, 2020; (3) the first payment on June 30, 2021; and (4) the accrual of interest on December 31, 2021. (Round answers to the nearest whole dollar, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit 2020 2021 >