Problem 10-5A (Algo) Installment notes LO C1 On January 1, 2021, Norwood borrows $570,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $135,315 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 $570,000 cash by signing a five-year, 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. On January 1, 2021, Norwood borrows $570,000 cash from a bank by signing a five-year installment note bearing 6% interest. The note requires equal payments of $135,315 each year on December 31 . Required: 1. Complete an amortization table for this installment note. 2. Prepare the journal entries in which Norwood records the following (a) Norwood borrows $570,000 cash by signing a five.year, 6% instaliment 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. Prepare joumal entries to record the note's issuance and each of the first two payments