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On December 31, 2023. Sack Port Ventures inc borrowed $107,000 by signing a four-year. 6.5% installment note. The note requires annual payments of accrued interest

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On December 31, 2023. Sack Port Ventures inc borrowed $107,000 by signing a four-year. 6.5% installment note. The note requires annual payments of accrued interest and equal amounts of pincipal on December 31 of each year from 2024 through 2027. a. How much principal will be included in each of the four payments? b. Prepare an amortization table for this instalment note. (Round the final answers to the neorest whole dollar. Enter all the amounts os positive values.) c. Prepare joumal entries that Sack Port Ventures Inc. would make to record the loan on December 31, 2023, and the four payments starting on December 31, 2024, through the final payment on December 31, 2027. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet 5 Record the borrowal of $107,000 by signing a 6.5% instaliment note. Note: finter debuts before credits. starting on December 31, 2024, through the final payment on December 31, 2027. (Do not round intermediate calculations, Round the final answers to the nearest whole dollar.) Journal entry worksheet 5 Record the first installment payment. Note: Enter debits before credits. starting on December 31, 2024, through the final payment on December 31, 2027, (Do not round intermediate calculations. the final answers to the nearest whole dollar.) Journal entry worksheet 5 Record the second installment payment. Note: Enter debits before credits. Journal entry worksheet

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