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On January 1, a company borrowed cash by issuing a $460,000,4%, installment note to be...

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Accounting

On January 1, a company borrowed cash by issuing a $460,000,4%, installment note to be paid in three equal payments at the end of each year beginning December 31.
Note: Use tables, Excel, or a financial calculator. (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
Amortization
General
Journal
What would be the amount of each installment?
Note: Round your final answer to the nearest whole dollar.
Annual Payment
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