SA Helo Seve Check On November 1, 2019. Norwood borrows $590,000 cash from a bank by signing a five-year installment note bearing 7% interest The note requires equal payments of $143,895 each year on October 31 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). (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 20 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Pod Eng Datu Beginning Balne Obtinterest Expense Debit Notes Paya - Credit Cash Ending Balance 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024 Total Red 2A and 28 > Prov Next 5A On November 1, 2019. Norwood borrows 5590.000 cash from a bank by signing a five-year installment note bearing 7% interest The note requires equal payments of $143,895 each year on October 31. 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) b) The first annual payment on the note Complete this question by entering your answers in the tabs below. Heg1 Reg 2 and 20 Prepare journal entries to record accrued interest as of December 31, 2019 and the first annual payment on October 31, 2020, View transactionat Journal entry worksheet > Record the interest accrued on the note as of December 31, 2019 Note Enter before credits Genal Journal Den Crean Date Dec 31, 2019 View general journal Clear entry Record entry Prey 1 of 1 !!! Next On November 1, 2019. Norwood borrows $590,000 cash from a bank by signing a five-year installment note beating 7% interest The note requires equal payments of $143,895 each year on October 31 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). (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Reg 2 and 20 Prepare journal entries to record accrued interest as of December 31, 2019 and the first annual payment on October 31, 2020. View transaction lit Journal entry worksheet > Record the first installment payment on October 31, 2020. Assume no reversing entries were prepared General Journal Debe Credit Oct 31, 2020 Record entry Clear entry View general journal Prev 1 of 1 !!! Next