On November 1, 2017, Norwood borrows $570,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $135,315 each year on October 31. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.)

Required: 1. Complete an amortization table for this installment note.

2. Prepare the journal entries in which Norwood records the following:

(a) Accrued interest as of December 31, 2017 (the end of its annual reporting period).

(b) The first annual payment on the note.

Req 1 Req 2A and 2B Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Debit Interest Expense + Debit Notes-Credit Cash Ending Balance Period Ending BeginningD Date 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 Total Balance Payable