Take Home Chapters 13 & 14 Sot Help Save & Exit Submit 6 5 points 03:38:01 On January 1, 2021, Norwood borrows $510,000 cash from a bank by signing a five-year installment note bearing 9% interest. The note requires equal payments of $131,116 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 $510,000 cash by signing a five-year. 9% installment note. (b) Record the first installment 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. Req 1 Req 2 Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Period Ending Date Beginning Balance 12/31/2021 Debit Interest Expense Debit Notes Payable Credit Cash Ending Balance Next