Question: 2. Complete an installment note amortization schedule for this note, (Do not round intermediate colculotions, Round the finn! answers to the nearest whole dollor. Enter




2. Complete an installment note amortization schedule for this note, (Do not round intermediate colculotions, Round the finn! answers to the nearest whole dollor. Enter all the amounts as positive volues.) Problem 14-11A Installment notes LO8 On November 30, 2023, Calla Resources 1/d. borrowed $210,000 from a bank by signing a four -year installment note bearing interest at 8%. The terms of the note requite equal payments each year on November 30, starting Novernber 30, 2024. Use IABLE 14A2 (Use oppropriate factor(s) from the tobles provided.) Required: whole dollar.) 3. Present the journal entries that Calla would make to record accrued interest as of December 31,2023 (the end of the annual reporting period), and the first payment on the note. (Do not round intermediate calculations, Found the final answers to the nearest whole dollar.) Journal entry worksheet Record the accrued interest on the installment note payable. Note: Enter debils befere credits. Journal entry worksheet Record the accrued interest on the installment note payable. Note: Enter debits before credits. 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 instaliment note amortization schedule for this note, Present the journal entries that Calla would make to record accrued interest as of December 31, 2023 (the end of the annual reporting period). and the first payment on the note. (Do not round intermediate colculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.)
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