Shacklebolt Company borrowed $57,000 on January 1, 2021, and signed a three-year, 6% installment note to be paid In three equal payments at the end of each year. The present value of an ordinary annuity of $1 for 3 periods at 6% is 2.67301 1. Prepare the journal entry on January 1, 2021, for borrowing the funds. 2. Calculate the amount of one installment payment. 3. Prepare the journal entry for the first installment payment on December 31, 2021