On November 1, 2020, Norwood borrows $600,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note requires equal payments of $150,274 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, 2020 (the end of its annual reporting period), (b) The first annual payment on the note. ok ces 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 dollar amount) Beginning Balance Debit interest Expense Period Ending Date +Debit Notos Payable Credit Cash Ending Balance 10/31/2021 10/31/2022 10/31/2023 10/31/2024 10/31/2025 Total Reg 2A and 28 > Reg Reg 2A and 28 Prepare journal entries to record accrued interest as of December 31, 2020 and the first annual payment on October 31, 2021 View transaction list Journal entry worksheet 1 2 Record the interest accrued on the note as of December 31, 2020. Note: Enter debits before credits. Dato General Journal Debit Credit Dec 31, 2020 Record entry Clear entry View general Journal 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $6120 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 3,400 units of a product that carries a 60-day warranty, December sales for this product total $126,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $16 Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions ook View transaction list Fences Journal entry worksheet > B Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $6,120 of accrued vacation benefits for the year. Record the related adjusting entry. Note: Enter debits before credits Debit Credit General Journal Transaction 1 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $6,120 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 3,400 units of a product that carries a 60-day warranty, December sales for this product total $126,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $16 Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions View transaction list Journal entry worksheet