QS 10-11 Computing payments for an installment note LO C1 On January 1, 2017, MM Co. borrows $360,000 cash from a bank and in return signs an 8% installment note for five annual payments of $90,164 each, with the first payment due one year after the note is signed. Table B.3 (Use PV factors from table provided.) 1. Prepare the journal entry to record issuance of the note. View transaction list Journal entry worksheet Record the issuance of the note. ces Note: Enter debits before credits. Date Jan 01 General Journal Dobit Credit Record entry Clear entry View general journal