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4. On September 1, 2019, company signed a 20-year, $2,000,000 note payable to Bank of America in conjunction with the purchase of a building. The

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4. On September 1, 2019, company signed a 20-year, $2,000,000 note payable to Bank of America in conjunction with the purchase of a building. The note calls for interest at an annual rate of 24% (2% per month). The note is fully amortizing over a period of 240 months. The bank sent the company an amortization table showing the allocation of monthly payments between interest and principal over the life of the loan. A small part of this amortization table is illustrated below. a. Complete the table for December 1. Interest Period Issue Date Payment Monthly int Date Payment Expense September, 1 October, 1 S40,398 40,000 November, 1540,398 39,992 December, 1 Principal Unp Reduction Balance $2,000,000 1.999,602 406 1.999,196 398 3 b. Prepare the journal entry to record the payment for December 1 on this

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