On January $1,2024,$ Saugatuck Company borrowed $$300000$ for $5$ years at $1\%$ interest. The loan requires $5$ annual payments of $$61811\mathrm{.}94$ due on December $31$ each year. Round all calculations to the penny $(2$nd decimal place$).$

Note Amount:

Interest Rate:

Years to Maturity:

Annual Payments:

$$300,000\mathrm{.}00$

$1\mathrm{.}00\%$

$$61,811\mathrm{.}94$

$5$

Complete the amortization schedule for this loan.

$\backslash$table$[[$Date$,$Payment,Interest,Principal,Carry Value$],[$Jan $1,2024,,,,],[$Dec $31,2024,,,,],[$Dec $31,2025,,,,],[$Dec $31,2026,,,,],[$Dec $31,2027,,,,],[$Dec $31,2028,,,,]]$

Note: Due to rounding, you may have to slightly adjust the interest in the final payment.

$2$: Prepare the journal entry to record the loan at inception on Jan $1,2024.$ If more than one debit or credit is needed, place them in alphabetical order based on the account names. Round final answers to the second decimal place $($ie to the penny$).$

$\backslash$table$[[$Date$,$A$,$L$,$SE$],[$Jan $1,2024,,,]]$

$\backslash$table$[[R,E,NI$