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In this presentation, we will record the journal entry for payments on an installment note, using information from an amortization schedule to separate the principal and interest portions. We will begin by reviewing an excerpt of our amortization table, then create the journal entry in the general journal and post it to our worksheet. This includes our trial balance across assets, liabilities, equity, revenue, and expenses, with debits shown as positive and credits as negative, ensuring that total debits equal total credits, resulting in zero. The net income is reported as seven hundred thousand, representing revenue minus expenses, which are currently nonexistent. Our primary focus is to accurately record these journal entries for the loan obtained.