Required Information Problem 9-2A Prepare amortization schedule and record installment notes (L09-2) [The following information applies to the questions displayed below.) On January 1, 2021, Strato Corporation borrowed $2 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $776,067 on December 31 of each year. The payments include Interest at a rate of 8%. Problem 9-2A Part 1 Required: Record the cash received when the note is issued. (If no entry is required for a particular transaction/event, select Journal Entry Required" in the first account field. Enter your answer in dollars, not millions. (.e., $5.5 million sha entered as 5,500,000.).) View transaction list Journal entry worksheet Journal entry worksheet Record the receipt of cash from the issue of note payable. Note: Enter debits before credits. Account Title Debit Credit Date January 01, 2021 Record entry Clear entry View general journal Problem 9-2A Part 2 Prepare an amortization schedule over the three-year life of the installment note dollar amount.) Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 12/31/2021 12/31/2022 12/31/2023 Journal entry worksheet