problem 10-5A installment notes

Problem 10-5A Installment notes LO C1 On November 1, 2019, Norwood borrows $200,000 cash from a bank by signing a five-year installment note bearing 8% interest The note requires equal payments of $50,091 each year on October 31 75 points Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period). (6) The first annual payment on the note References Complete this question by entering your answers in the tabs below. Reg1 Reg 2 and 28 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Panod Ending Benning Balance Debt interest Expense Debit Notes Payable Credit Cash Ending Balance 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period) (6) The first annual payment on the note Complete this question by entering your answers in the tabs below. points Rea 1 Req 2A and 28 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Period Ending Date Beginning Balance Debit interest Expense C Debit Notes Payable l ash Ending Balance 102020 10/31/2021 10/31/2022 107312024