On November 1, 2011, Leetch Ltd. borrows $560,000 cash from a bank by signing a five-year installment note bearing 9% interest. The note requires equal total payments each year on October 31. (Use Table B.3) Required: 1. Compute the total amount of each installment payment. (Round "PV Factor" to 4 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Installment payment $ 2. Complete an amortization table for this installment note. (Please calculate interest expense in the final period as the amount of cash minus the amount of the Beginning balance and make sure that the ending balance in the last period equals to "0". Leave no cells blank - be certain to enter "0" wherever required. Round "PV Factor" to 4 decimal places and final answers to the nearest dollar amount. Omit the "$" sign in your response.) Payments Period Ending Date (A) Beginning Balance (B) Debit Interest Expense (C) Debit Notes Payable (D) Credit Cash (E) Ending Balance 10/31/2012 $ $ $ $ $ 10/31/2013 10/31/2014 10/31/2015 10/31/2016 Total $ $ $ 3. Prepare the journal entries in which Leetch records the following: (a) Accrued interest as of December 31, 2011 (the end of its annual reporting period). (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Date General Journal Debit Credit Dec. 31 (b) The first annual payment on the note. (Round "PV Factor" to 4 decimal places. Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Date General Journal Debit Credit Oct. 31