* buei itslearning.com/ContentArea/ContentArea.aspx?LocationID=31656&Location Type=1&ElementID=1597047 Courses Groups Calendar BAU BUZEB BAU Library -224 (1) Principles of A... Overview Plans Resources Status and follow-up Participants More Question 2 On January 1, 2016, Belden, Inc. issued long-term notes payable for $50,000. The note will be paid over 10 years with payments of $5,000 plus 12% interest due each January 1, beginning January 1, 2017. The amortization schedule for the first three payments is provided. Prepare the journal entry for the issuance of the note and for the January 1, 2018 note payment. Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 01/01/2016 $50,000 01/01/2017 01/01/2018 $50,000 $5,000 $6,000 $11,000 45,000 45,000 5,000 5,400 10,400 40,000 40,000 5,000 4,800 9,800 35,000 01/01/2019 Your answer: Font Size BIU A. A- 22 x x 3 2