Beth's Bobbles purchased some property on December 31, 2011, for $96,000, paying $21,000 in cash and obtaining a mortgage loan for the other $75,000. The interest rate is 12% per year, with $3,245 payments made at the end of March, June, September, and December 2012.

1. What amounts should appear as interest expense on the quarterly income statements and as liabilities on the quarterly balance sheets during 2012?

2. What amount of interest expense should appear on the income statement for the year ended December 31, 2012?

co.plete the amortization schedule to calculate the interest expense and liability balance (Round answer to the nearest cent.)

Beth's Bobbles purchased some properly on December 31, 2011, for $96,000 paying 521,000 in cash and obtaining a mortgage loan for the other $75,000. The interest rate is 12% per year with $3,245 payments made at the end of March, June, September, and December 2012 1. What amounts should appear as interest expense on the quarterly income statements and as liabilities on the quarterly balance sheets during 2012 2. What amount of interest expense should appear on the income statement for the year ended December 31, 2012 1. What amounts should appear as interest expense on the quarterly income statements and as Sabiles on the quarterly balance sheets during 20127 Complete the amortization schedule to calculate the interest expense and liability balance. (Round your answers to the nearest cent) Quarter (1) Beginning principal balance (2) Cash payment Principal (3] Interest expense (1)x 12% x 3/12 ending paid Ending principal balance 11-14 (2) (3) March June September December 2. What amount of interest expense should appear on the income statement for the year ended December 11 201225