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A partial amortization schedule for a five-year note payable that Holly Co. issued on January 1, 2014, is shown here: Accounting Period Principal Balance January
A partial amortization schedule for a five-year note payable that Holly Co. issued on January 1, 2014, is shown here: |
Accounting Period | Principal Balance January 1 | Cash Payment | Applied to Interest | Applied to Principal | |
2014 | $50,000 | $11,549 | $2,500 | $9,049 | |
2015 | 40,951 | 11,549 | 2,048 | 9,501 | |
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