Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and interest payments due annually.

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Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and interest payments due annually. The following instalment payment schedule is partially completed:

(a) Fill in the missing amounts for items [1] to [10]. Round all amounts to the nearest dollar.

(b) What are the current and non-current portions of the loan at the end of period 3?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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Question Posted: Jan 11, 2017 10:23 AM

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Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and interest payments due annually.

Question:

Reduction of Interest Perlod Issue date Cash Payment Interest Expense Prin Prin al Balance $ 8,695 9,955 11,394 $50,000 41,305 32,001 [61 11,394 [10] $12,195 2,891 1,543 801

Step by Step Answer:

a 1 50000 7 3500 2 12195 fixed cash payment 3 12195 2 ...View the full answer

Financial Accounting Tools for Business Decision Making

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