Required information [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 yoors. 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%. Required: Record the cash received when the note is issued. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000.).) Journal entry worksheet Record the receipt of cash from the issue of note payable. Note: Enter debits before credits. Prepare an amortization schedule over the three-year life of the instaliment note. (Round your final answers to the nearest dollar amount.)