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please asap On January 1, 2021, Pohanka borrows $200,000 cash from a bank by signing a 3-year installment note bearing 8% interest. The note requirestar
please asap
On January 1, 2021, Pohanka borrows $200,000 cash from a bank by signing a 3-year installment note bearing 8% interest. The note requirestar equal payments of $77,607, consisting of accrued Interest and principal on December 31 of each year from 2021 through 2023. Round to the nearest dollar. 1. Complete the following amortization table Period ending Beginning Interest date balance expense Notes payable Cash Ending balance 12/31/2021 12/31/2022 12/31/2023 2. Prepare journal entry to record the first installment payment. You do not need to provide explanation for the entry 3. Prepare journal entry to record the second installment payment. You do not need to provide explanation for the entry Step by Step Solution
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