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3. L 1.00 points Brief Exercise 14-11 Installment note [LO14-3] on January 1, a company...

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Accounting

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3. L 1.00 points Brief Exercise 14-11 Installment note [LO14-3] on January 1, a company borrowed cash by issuing a $400,000, 7%, installment note to be paid in 3oqual payments at the end of each year beginning December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What would be the amount of each installment? Table or calculator function: Amount Borrowed: Annual Payment: Prepare an amortization table for the installment note. (Round your intermediate calculations to the nearest dollar.) Cash Payment Interest Decrease in Outstanding Balance Balance 490,000 Total Prepare the jounal entry for the second i nstallment payment. (Round your intermediate calculations to MacBook A

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