On November 1, 2019, Norwood borrows $590,000 cash from a bank by signing a five-year installment note bearing 7% interest. The note requires equal payments of $143,895 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 (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period). (b) The first annual payment on the note Complete this question by entering your answers in the tabs below. Rji Reg 2A and 2B Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Period Ending Date Beginning Balance Debit Interest +Debit Notes Expense Payable Credit Cash on Ending Balance 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024 Total Req 2A and 28 > On November 1, 2019, Norwood borrows $590.000 cash from a bank by signing a five-year installment note bearing 7% interest. The note requires equal payments of $143,895 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: (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period). (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A and 28 Prepare journal entries to record accrued interest as of December 31, 2019 and the first annual payment on October 31, 2020. View transaction list Journal entry worksheet Record the interest accrued on the note as of December 31, 2019 Note: Enter det before credits General Journal Debit Credit Date Dec 31, 2019 At the end of the current year, the following information is available for both Pulaski Company and Scott Company Total assets Total liabilities Total equity Pulaski Company $2,271,800 888, eee 1,383,000 Scott Company $1,140,000 582.000 558,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the debt-to-equity ratios for both companies. Choose Numerator: Choose Denominator: Debt-to-Equity Ratio Pulask Company Scott Company Required 2 > At the end of the current year, the following information is available for both Pulaski Company and Scott Company Total assets Total liabilities Total equity Pulaski Company $2,271,800 888, eee 1,383,000 Scott Company $1,140,000 582.000 558,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the debt-to-equity ratios for both companies. Choose Numerator: Choose Denominator: Debt-to-Equity Ratio Pulask Company Scott Company Required 2 > At the end of the current year, the following information is available for both Pulaski Company and Scott Company Pulaski Company $2,271,000 Total assets Total liabilities Total equity Scott Company $1,140,000 582.000 558,000 1.383.000 Required: 1. Compute the debt-to-equity ratios for both companies 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 which company has the risker financing structure? Which company has the thier financing structure? (Required 1
