Question
Brief Exercise 9-3 (Static) Interpret an amortization schedule for an installment note (LO92) Presented below is a partial amortization schedule for a three-year installment note
Brief Exercise 9-3 (Static) Interpret an amortization schedule for an installment note (LO92) Presented below is a partial amortization schedule for a three-year installment note requiring monthly payments of $1,128.11. (1) Date (2) Cash Paid (3) Interest Expense (4) Decrease in Carrying Value (5) Carrying Value Carrying Value Interest Rate (2) (3) Prior Carrying Value (4) 11/1/2024 $36,000.00 11/30/2024 $1,128.11 $240.00 $888.11 35,111.89 12/31/2024 1,128.11 234.08 894.03 34,217.86
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Internal Auditing Assurance And Advisory Services
Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle
3rd Edition
0894137409, 978-0894137402
