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6. LT Services borrowed money from Megabucks Bank in order to finance a much-needed upgrade to its 15 marks building. The repayment terms and additional

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6. LT Services borrowed money from Megabucks Bank in order to finance a much-needed upgrade to its 15 marks building. The repayment terms and additional information for the long-term note payable signed by LT and the bank are as follows: $ Date the long-term note was issued Amount borrowed from Megabucks Bank Term of the note payable Frequency of payments Interest rate, set by Megabucks Bank LT Services' fiscal year-end date May 1, 2020 64,000 4 years Annual 6% 31-Dec REQUIRED: a) Determine the annual payment. b) Prepare three years of the loan amortization schedule. c) Show the Balance Sheet presentation for the loan on December 31, 2020. d) Prepare all the required journal entries for LT Services regarding the loan up to and including the company's year-end of December 31, 2021. NOTE: For parts b), c) and d), round amounts to the nearest dollar

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