PROBLEM 10.48 Preparation and Use of an Amortization Table LO10-4 On October 1. 2021. Jenco signed a four-year. $100000 note equipment. The note calls for interest at an annual rate of [2 48 months. payable to Vicksburg State Bank in conjunction with the purchase of percent (l percent per month). The note is fully amortizing over a period of Die bank sent Jenco an amortization table showing th e allocatio loan. A small part of this amortization table is illustrated as POIIOWS. (For convenience, amounts have been rounded to the nearest dollar.) Interest Period Payment Date Monthly Payment Interest Expense Principal Reduction Unpaid Baler issue date Oct. 1, 2021 $100,000 1 Nov. 1 $1,000 $1,633 98,3 1,649 96,? a Instructions a. Explain whether the amounts of interest expense and the reductions in the unpaid principal are likely to change in any predictable pattern from month to month. 1). Prepare journal entries to record the rst two monthly payments on this note. c. Complete this amortization table for two more monthly installments. d. W11 any amounts relating to this fouryear note be claSSied as current liabilities in Jenco's December 31, 202], balance sheet? Explain, r: but you need not compute any additional dollar amounts