Qs 10-11 Computing payments for an installment note LO C1 On January 1, 201 MM Co. borrows $410, cash f o na bank and in return signs an 4% installment note for five annual payments of $92,097 each, 1. Prepare the journal entry to record issuance of the note. with the first payment due one year after the note is signed. (Table 8.3) (Use PV factors from table provided.) View transaction list Journal entry worksheet Record the issuance of the note Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal