Question: Help Sa Problem 14-6A Installment notes LO C1 On November 1, 2017, Norwood borrows $570,000 cash from a bank by signing a nve-year nstallment note
Help Sa Problem 14-6A Installment notes LO C1 On November 1, 2017, Norwood borrows $570,000 cash from a bank by signing a nve-year nstallment note bearing 6% interest the note requires equal payments of $135315 each year on October 31(Table BL Table 82. Table B.3, and Table (Use appropriate factor(s) from the tables provided. 1. Complete an amortization table for this Installment note 2. Prepare the journal entries in which Norwood records the following: la) Accrued linterest as of December 31, 2017 the end of its annual reporting period). (b) The irst annual payment on the note. Complete this question by entering your answers in the tabs below. Req 1 Req 2A and 2 Complete an amortization table for this instalment nobe. (Round your intermediate calculations to the nearest dolar Expense Payable Credit Cash Ending 031/2018 1031/2019 5 8 K. view 13-14(Extra Credit 2. Prepare the journal entries in which Norwood records the following (a) Accrued interest as of December 31, 2017 (the end of its annual reporting perlod) (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Req 1 Req 2A and 28 Complete an amortization table for this installiment note. (Round your intermediate calculations to Ending Beginning Debit Interest + Debit Notes Debit Interest Debit NotesCredit Cash Balancte Date Balance 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 Total
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