Recording Entries for an Installment Note Payable On January 1 of Year 1, a borrower signed a long-term note, face amount of $240,000; time to maturity is three years; stated rate of 8%. The market rate is 10%. The note will be paid in three equal annual installments of $93,127 on each December 31 (which is the accounting year-end for the borrower). Required Note: Round your answer to the nearest whole dollar. a. Compute the cash received by the borrower. S 0 b. Prepare a debt amortization schedule. Note: Round each amount in the table to the nearest whole dollar. Note: Use a negative sign for the "Reduction in N.P." amounts. Date Jan. 1, Year 1 Dec. 31, Year 1 S Dec. 31, Year 2 s Cash Interest Expense Reduction in N.P. Carrying Value 0 0 S 0 S 0 0 S 0 Dec. 31, Year 3 s Total 0 S 0 S 0 0 S 0 c. Provide the required entries for the borrower for the issuance of the note on January 1, Year 1, and the interest payments on December 31 of Year 1, Year 2, and Year 3. Note: Round your answer to the nearest whole dollar. Date Jan. 1, Year 1 Account Name Dr. Cr. 0 0 0 0 To record issuance of note. Dec. 31, Year 1 0 0 0 0 0 To record interest payment. Dec. 31, Year 2 0 0 0 0 0 To record interest payment. Dec. 31, Year 31 0 0 0 0 0 0 To record interest payment