! Required information Problem 9-2A (Algo) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Cicero Corporation borrowed $3 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $1,143,155 on December 31 of each year. The payments include interest at a rate of 7%. Problem 9-2A (Algo) Part 1 Required: 1. Record the cash received when the note is issued. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answer in dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).) View transaction list Journal entry worksheet < 1 Record the receipt of cash from the issue of the note payable. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal