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On November 30,2023 , Calla Resources Ltd. borrowed $220,000 from a bank by signing a four-year installment note bearing interest at 6%. The terms of

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On November 30,2023 , Calla Resources Ltd. borrowed $220,000 from a bank by signing a four-year installment note bearing interest at 6%. The terms of the note require equal payments each year on November 30, startung November 30, 2024. Use TABLF 14A2 (Use approprlate factor(s) from the tables provided.) Required: 1. Calculate the size of each instaliment payment. (Do not round intermedlate colculations. Round the final answer to the nearest whole dollar.) 2. Complete an instaliment note amortization schedule for this note. (Do not round intermedlate calculations, Round the final answers to the nearest whole doliar. 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 intermediote colculations. Round the final answers to the nearest whole dollat, 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 intermedlate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record the accrued interest on the instaliment 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 principat in each payment. Complete an instaliment note amortization schedule for this note. Present the journai entres that Calia would make to record accrued interest as of December 31,2023 (the end of the annual reporting pertoof and the first payment on the note (Do not round intermedlate colculations. Round the finot onswers to the nearest whole dollar. Enter oll the amounts os positive values.) 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 acciued interest as of December 31,2023 (the end of the annual reporting period), and the first payment on the note. (Do not round Intermedlate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Journal entry worksheet 2 Record the accrued interest on the installment note payable. Fictei Enter debitn befere cradits. Journal entry worksheet Record the first payment made on installment note. Notei Entar debita belore credits

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