Problem 10-5A (Algo) Installment notes LO C1 On January 1, 2021, Norwood borrows $520,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $123,445 each year on December 31 . Required: 1. Complete an amortization table for this instaliment note. 2. Prepare the journal entries in which Norwood records the following: (a) Norwood borrows $520,000 cash by signing a five-yeat, 6% installment note. (b) Record the first instaliment payment on December 31, 2021. (c) Record the second installment payment on December 31, 2022 Complete this question by entering your answers in the tabs below. Complete an amortization table for this installment note. (Hound your intermed ate calculations to the nearest dollar amount.) Trepare journal entries to record the note's issuance and each of the first two payments. Journal entry worksheet Norwood borrows $520,000 cash by signing a five-year, 6% instaliment note. Fisteri Enter debits before eredits