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On November 1, 2019. Norwood borrows $410,000 cash from a bank by signing a five-year installment note bearing 9% interest: The note requires equal payments

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On November 1, 2019. Norwood borrows $410,000 cash from a bank by signing a five-year installment note bearing 9% interest: The note requires equal payments of S105 407 each year on October 31 Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following (9) Accrued interest as of December 31, 2019 (the end of its annual reporting period (b) The first annual payment on the note 2000 Complete this question by entering your answers in the tabs below. Req Reg 2A and 20 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Perlod Ending Beginning Balance Debit interest Expense Debit Notes Payable -Credit Cash Ending Balance 10/31/2020 1032021 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A and 28 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dallar amount.) Period Ending Beginning Debit Interest +Debit Notes Ending Date Balance Expense Credit Cash Payable Balance 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024 Total CROS Req 2A and 2B > Reg 1 Reg 2A and 20 Prepare journal entries to record accrued interest as of December 31, 2019 and the first annual payment on October 31, 2020 View transaction ist Journal entry worksheet Record the interest accrued on the note as of December 31, 2019, General Journal Debit Credit Dec 31, 2019 Journal entry worksheet Record the first installment payment on October 31, 2020. Assume no reversing entries were prepared. Note: Enter debits before credits. General Journal Debit Credit Date Oct 31, 2020 Record entry Clear entry View general Journal

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