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Problem 10-5A Installment notes LO C1 On November 1, 2019. Norwood borrows $490,000 cash from a bank by signing a five-year installment note bearing 7% interest. The note requifes equal payments of $119,506 each year on October 31 . Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following: (a) Accrued interest as of December 31, 2019 (the end of its annual reporting period) (b) The first annual payment on the note. Complete this question by entering your answers in the tabs below. Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest do Journal entry worksheet Record the first installment payment on October 31, 2020. Assume no reversing entries were prepared. Note: Enter debits before credits