On November 30,2023 , Calla Resources Lid. borrowed $210,000 from a bank by signing a four-year installment note bearing interest. at 8%. The terms of the note require equal payments each year on November 30, starting November 30, 2024. Use IABIF 1AA.2 (Use oppropriate foctor(s) from the tables provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate colculotions. Round the final onswer to the neorest whole dollar.) 2. Complete an installment note amortization schedule for this note, (Do not round intermediate colculations. Round the final onswers to the nearest whole dollor. Enter all the amounts os positive volues.) 3. Present the joumal entries that Calia would make to record accrued interest as of December 31,2023 (the end of the annual reporting perloct), and the first payment on the note. (Do not round intermedinte calculations. Round the final answers to the nenrest whole dollar.) Journal entry worksheet 2 Record the accrued interest on the installment note payable. Wote Eater debits before credits: On November 30, 2023, Calla Resources Ltd. borrowed $210,000 from a bank by signing a four -year installment note bearing interest at 8%. The terms of the note require equal payments each year on November 30, starting November 30, 2024, Use IABLF 14A.2 (Use oppropriate factor(s) from the tobles provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) 2. Complete an installment note amortization schedule for this note, (Do not round intermediate calculations. Round the final onswers to the nearest whole dollar. Enter all the amounts as positive values.) 3. Present the journal entries that Calla would make to record accrued interest as of December 31,2023 (the end of the annual reporting period), and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollor.) Journal entry worksheet Record the accrued interest on the installment note payable. Journal entry worksheet Record the accrued interest on the installment note payable. Note: Enter debits before credits. 4. Now assume that the note does not require equal payments but does require four payments that include accrued interest and an equal amount of principal in each payment. Complete an installment note amortization schedule for this note. Present the journal entries that Calla would make to record accrued interest as of December 31,2023 (the end of the annual reporting period). and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) On November 30,2023 , Calla Resources Lid. borrowed $210,000 from a bank by signing a four-year installment note bearing interest. at 8%. The terms of the note require equal payments each year on November 30, starting November 30, 2024. Use IABIF 1AA.2 (Use oppropriate foctor(s) from the tables provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate colculotions. Round the final onswer to the neorest whole dollar.) 2. Complete an installment note amortization schedule for this note, (Do not round intermediate colculations. Round the final onswers to the nearest whole dollor. Enter all the amounts os positive volues.) 3. Present the joumal entries that Calia would make to record accrued interest as of December 31,2023 (the end of the annual reporting perloct), and the first payment on the note. (Do not round intermedinte calculations. Round the final answers to the nenrest whole dollar.) Journal entry worksheet 2 Record the accrued interest on the installment note payable. Wote Eater debits before credits: On November 30, 2023, Calla Resources Ltd. borrowed $210,000 from a bank by signing a four -year installment note bearing interest at 8%. The terms of the note require equal payments each year on November 30, starting November 30, 2024, Use IABLF 14A.2 (Use oppropriate factor(s) from the tobles provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) 2. Complete an installment note amortization schedule for this note, (Do not round intermediate calculations. Round the final onswers to the nearest whole dollar. Enter all the amounts as positive values.) 3. Present the journal entries that Calla would make to record accrued interest as of December 31,2023 (the end of the annual reporting period), and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollor.) Journal entry worksheet Record the accrued interest on the installment note payable. Journal entry worksheet Record the accrued interest on the installment note payable. Note: Enter debits before credits. 4. Now assume that the note does not require equal payments but does require four payments that include accrued interest and an equal amount of principal in each payment. Complete an installment note amortization schedule for this note. Present the journal entries that Calla would make to record accrued interest as of December 31,2023 (the end of the annual reporting period). and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.)
