Using the information provided, compute the following amounts. 1. What was the carrying amount (book value) of the installment note before the payment on October 1? 2. What portion of next year's payment will be interest? (Round the amount to the nearest dollar.) Installment Note Shaded cells have feedback. The following journal entry was made by your predecessor to record the annual payment on a 5%, 10-year installment note. 1 2. DATE Oct. 1 Interest Expense Notes Payable Cash DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT 710 152,086.00 215 550,476.00 110 702,562.00