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Required information (The following information applies to the questions displayed below) On January 1, 2024, Rosemont Corporation borrowed $14 million from a local bank to construct a new buliding over the next three years. The loan will be paid back in three equal instaliments of $5,432,469 on December 31 of each year. The payments include interest at o rote of 8%. 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 ccount field. Enter your answer in dollars, not millions. (1.e., $5.5 million should be entered as 5,500,000.).) Journal entry worksheet Record the payment of first annual installment on the note payable. Note: Enter debits before credits. Create an amortization schedule for this loan on scratch paper. Use amounts from the amortization sch installment payment. (If no entry is required for a particular transaction/event, select "No Journal Ent account field. Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,50 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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