Your answer is correct. Prepare a payment schedule for the life of the note. (If answer is 0 , please enter 0 . Do not leave any fields blank.) Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $19,720. The company already has $5,800 set aside for the purchase and will need to borrow the rest. Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie \& Coffee Creations Inc. $13,920 on November 1,2023 , for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,320, on May 1 and November 1 of each year plus 6 months of interest. (a) Prepare a payment schedule for the life of the note. (If answer is 0 , please enter 0 . Do not leave any fields blank.) Prepare the journal entry for the purchase of the oven and the issue of the note payable on November 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entries on May 1 and November 1 for the note. Assumes Interest Expense was accrued at year end on October 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)