TABLE 14A.2 Present Value of an Annulty of 1 Period Rate Periods 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 15% 1 2 3 4 5 6 7 8 9 10 12 13 14 15 16 17 18 19 20 25 30 35 40 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.8929 0.8696 1.9704 1.9416 1.9135 1.8861 1.8594 1.8334 1.8080 1.7833 1.7591 1.7355 16901 1,6257 2.9410 28839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4869 24018 2.2832 3.9020 3.8077 3.7171 3.6299 3.5460 3.4651 3.3872 3.3121 32397 3.1699 30373 28550 4.8534 4.71354.5797 4.4518 4.3295 4.2124 4.1002 3.9927 3.8897 3.7908 3.6048 3.3522 5.7955 5.6014 5.4172 5.2421 5.0757 4.9173 4.7665 4.6229 4.48594.3553 4.1114 3.7845 6.7282 6.4720 6.23036.0021 5.7864 5.5824 5.3893 5.2064 5.0330 4.8684 4.5638 4.1604 7.6517 7.3255 7.0197 6.7327 6.4632 6.2098 5.9713 5.7466 5.5348 5.3349 4.9676 4.4873 8.5660 8.1622 7.7861 7.4353 7.1078 6.8017 65152 6.2469 5.9952 5.7590 53282 47716 9.4713 8.9826 8.5302 8.1109 7.7217 7.3601 7.0236 6.7101 6.4177 6.1446 5.6502 5.0188 10.3676 9.7868 9.2526 8.7605 8.3064 788697498771390 6.8052 6.4951 5.9377 5.2337 11.2551 10.5753 9.95409,3851 8.8633 8.3838 79427 75361 7.1607 68137 6.1944 54206 12.1337 11 3484 10.6350 9.9856 9.39368.8527 8.3577 7.9038 74869 7.1034 6.4235 5.5831 13.0037 12.1062 11.2961 10.5631 9.89869.29508.7455 8.2442 7.786273667 6.6282 57245 13.8651 12.8493 11.9379 11.1184 10 37979.7122 9.1079 8.5595 8.0607 76061 6.8109 58474 14.7179 135777 12.5611 11.6523 10.8378 10.1059 9.4466 8.8514 8,3126 7.8237 6.9740 59542 15.5623 14 2919 13.1661 12 1657 112741 10.4773 9.7632 9.1216 8.5436 8.0216 7.1196 6.0472 163983 14 9920 13.7535 12.6593 11.6896 10.8276 100591 9.3719 8.7556 8.2014 72497 6.1280 172260 15 6785 14 3238 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649.73658 6.1982 180456 16 3514 14 8775 13.5903 12.4622 11.4699 10.5940 9.8181 9.1285 8.5136 74694 62593 22.0232 19 5235 17.4131 15.6221 14.0939 12.7834 11.6536 106748 9.8226 9.0770_78431 6.4641 25 8077 22.3965 19.6004 17 2920 15 3725 13.7648 12 4090 11.2578 10 273794269 8.0552 65660 29.4086 24.9986 21 4872 18.6646 16 3742 14 4982 129477 11.6546 105668 9.6442 8.1755 6.6166 32 8347 273555 23.1148: 19.7928 17 1591 15.0463 13.3317 11.9246 10.7574 9.7791 8.2438 6,6418 On November 30, 2020, Calla Resources Ltd. borrowed $160,000 from a bank by signing a four-year installment note bearing interest at 12%. The terms of the note require equal payments each year on November 30, starting November 30, 2021. Use TABLE 14A2 (Use appropriate foctor(s) from the tables provided.) Required: 1. Calculate the size of each installment payment(Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Payment 2. Complete an installment note amortization schedule for this note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts os positive values.) Payments Period Ending Beginning Balance Period Interest Expense Debit Notes Payable Credit Cash Ending Balance Nov. 30/21 Nov 30/22 Nov. 30/23 Nov. 30/24 Totals 3. Present the journal entries that Calla would make to record accrued interest as of December 31, 2020 (the end of the annual reporting period), and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) View translation list 1 Record the accrued interest on the installment note payable * Record the first payment made on installment note. Credit Note Journal entry has been entered Record entry Cluaranty View general journal 4. Now assume that the note does not require equal payments but does require four payments that include accrued interest and an equal amount of principal in each payment. Complete an installment note amortization schedule for this note. Present the Journal entries that Calla would make to record accrued interest as of December 31, 2020 (the end of the annual reporting period), and the first payment on the note. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Payments Debit Notes Payable Period Ending Period Interest Expense Beginning Balance Credit Cash Ending Balance Nov. 30021 Nov. 30/22 Nov. 30/23 Nov 30/24 Totals View transaction list 1 Record the accrued interest on the installment note payable 2. Record the first payment made on installment note. Credit Note: Journal entry has been entered Record entry Clear entry View general Journal