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1) On January 1, 2015 you take out a $16,000 3-year installment note to pay for a car. The interest rate is 7%. Payments are
1) On January 1, 2015 you take out a $16,000 3-year installment note to pay for a car. The interest rate is 7%. Payments are made semi annually and the payment. Is $1126.01. Please complete the table. 
On January 1, 2015 you take out a $6,000 3-year Installment Note to pay for a car. The interest rate is 7%. Payments are made semi-annually and the payment per period is $1,126.01. Please complete the table. Payment Number Cash Payment Principal Interest Loan Balance oveWN 2) Record the Journal Entry for the 1st and 2nd Payments.
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
3rd Canadian Edition
017689859X, 9780176898595
