Question: please solve it. (correct answer) On December 31, 2020, Sack Port Ventures inc, borrowed $92,000 by signing a four-year, 6.0% installment note. The note requires

please solve it. (correct answer)

On December 31, 2020, Sack Port Ventures inc, borrowed $92,000 by signing a four-year, 6.0% installment note. The note requires annual payments of accrued interest and equal amounts of principal on December 31 of each year from 2021 through 2024. 0. How much principal will be included in each of the four payments? b. Prepare an amortization table for this instaliment note. (Round the finol answers to the nearest whole dollor. Enter all the amounts os positive values.) c. Prepare journal entries that Sack Port Ventures Inc. would make to record the loan on December 31, 2020, and the four payments starting on December 31, 2021, through the final payment on December 31, 2024. (Do not round intermediate calculations. Round the final answers to the nearest whole dollor.) Journal entry worksheet 5 Record the borrowal of $92,000 by signing a 6.0% installment note. Note: Enter debses bedore credits

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