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Company has a loan outstanding with a current balance of 80,000, with monthly payments of 1,700. The interest rate is 10%. Prepare an amortization table

Company has a loan outstanding with a current balance of 80,000, with monthly payments of 1,700. The interest rate is 10%.

Prepare an amortization table for the first 3 monthly payments

Prepare a journal entry to record the 3^rd monthly payment.

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