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Accounting

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[The following information applies to the questions displayed below] On January 1, 2024. Cicero Corporation borrowed $9 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 $3.555.493 on December 31 of each year. The payments include interest at a fate of 9%. Create an amortization schedule for this loan on scratch paper. Use amounts from the amortization schedule to record each nstallment payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first iccount field. Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000.).) Journal entry worksheet Record the payment of first annual instaliment on the note payable. Note: Enter debits before credits. Journal entry worksheet Record the payment of second annual installment on the note payable. Note: Enter debits before credits. Journal entry worksheet Record the payment of third annual installment on the note payable. Note: Enter debits before credits

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