please help me On January 1, a company borrowed cash by issuing a $480,000, 6%, installment note to be paid in three equalpayments at the end of each year beginning December 31. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 andPVAD of $1)What would be the amount of each installment?Prepare an amortization table for the installment note.Prepare the journal entry for the second installment payment.Complete this question by entering your answers in the tabs below.AnnualPaymentPrepare the journal entry for the second installment payment. (Round your intermediate and final answers to the nearest whole dono entry is required for a transaction/event, select "No journal entry required" in the first account field.)View transaction list<Amort TableJournal entry worksheet1GeneralJournalRecord the second installment payment.Note: Enter debits before creditsEvent1General JournalDebitCredit

Solution A journal is a company's official book in which all business transactions are recorded in…

On January 1, a company borrowed cash by issuing a $480,000, 6%, installment note to be paid in three equal 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) What would be the amount of each installment? Prepare an amortization table for the installment note. Prepare the journal entry for the second installment payment. Complete this question by entering your answers in the tabs below. Annual Payment Amort Table Prepare the journal entry for the second installment payment. (Round your intermediate and final answers to the nearest whole do no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Journal entry worksheet < General Journal Record the second installment payment. Note: Enter debits before credits Event 1 General Journal Debit Credit