Check my On January 1, 2017, Eagle borrows S34,000 cash by signing a four-year 5

Question

Check my On January 1, 2017, Eagle borrows S34,000 cash by signing a four-year 5% installment note. The note requires four equal payments 9.588, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020. (Mable B.1. Table B2.Table B.3. and Table B.4) (Use appropriate foctorls) from the tables provided.) Prepare an amortization table for this installment note Period Ending Beginning Debit Interest Debit Notes Credit Ending Balance Expense Payable Cash Balance nt 2017 2018 2019 2020 Total

Explanation / Answer

Period Beginning Debit Debit Credit Ending ending Balance Interest Exp Notes payable Cash Balance 2017 34000 1700 7888 9588 26112 2018 26112 1305 8283 9588 17829 2019 17829 891 8697 9588 9132 2020 9132 456 9132 9588 0 Total 4352 34000 38352

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---