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Please help me!! THANK YOU! On January 2. 2020. the Casual Elite Co. acquired land to build a distribution centre by issuing a 6%, three-year

Please help me!! THANK YOU!

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On January 2. 2020. the Casual Elite Co. acquired land to build a distribution centre by issuing a 6%, three-year note for $200,000. The note will be paid in three annual payments of 574.822 each December 31. The payment schedule follows: Year Annual Panent Principal Portion of Payment Interest Portion of Payment Principal Balance at Year-End 2020 $24,322 $62,322 $12,000 $132,123 2021 74.322 66.591 3.231 70.537 2022 14.322 10.537 4.235 4} Required 1. Prepare the entry to: a. Issue the note on January 2. 2020. b. Record the annual payment on December 3]. 2020. 2. Show how the note will appear on the December 31. 2020, balance sheet

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