Enter formulas in cells that contain wuestion marks (use only formulas). After entering formulas in all of the cells that contain question marks, verify that the amounts match the example below.

Required information The following information applies to the questions displayed below) In this Applying Excel exercise you will use Excel to create an amortization table, learn how to use the PMT function, and prepare the journal entries related to the issuance of an installment note Watch the tutorial video and then complete Parts 1 and 2 to practice and apply the skills demonstrated in the video Download the "Applying Excel' worksheet below and save it to your computer. View the tutorial video, and then complete the worksheet. Enter formulas in cells that contain question marks (only use formulas). After entering formulas in all of the cells that contain question marks, verify that the amounts match the example below. talumnate the amortivation chartela (a) Complete the amortization schedule Date Cash Paid Interest Expense Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 115,436.60 115,436.60 115,436.60 115,436.60 24,000.00 18,513.80 12,698.44 6,534.15 Decrease in Carrying Value Carrying Value 400,000.ee 91, 436.60 308,563.40 96,922.79 211,640.61 102,738.16 108,902.45 108,902.45 0.00 (b) Record issuance of the note Credit Debit 400,000.00 Cash Notes Payable 400,000.00 (c) Record the first installment payment Credit Dec. 31, 2021 Interest Expense Notes Payable Cash Debit 24,000.00 91, 436.60 115,436.60 (d) Record the second installment payment (d) Record the second installment payment Credit Dec. 31, 2022 Interest Expense Notes Payable Cash Debit 18,513.89 96,922.79 115,436.60 Change your worksheet setup so that the annual interest rate is 7%. You should not have the following: (a) Complete the amortization schedule Interest Decrease in Date Cash Paid Expense Carrying Value Carrying Value 400,000.00 Dec. 31, 2021 118, 091.25 28,000.00 90,091.25 309,988.75 Dec. 31, 2022 118,091.25 21,693.61 96,397.63 213,511.12 Dec. 31, 2023 118,091.25 14,945.78 103, 145.47 110,365.65 Dec. 31, 2024 118,891.25 7,725.60 110,365.65 0.00 If you do not get this answer, review your worksheet and formulas and try again Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse". Next click Save". You will use this worksheet to answer questions in Part 2 Required information Date Cash Paid Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 118, 091.25 118, 091.25 118,091.25 118,091.25 Interest Expense 28,000.00 21,693.61 14,945.78 7,725.60 Decrease in Carrying Value Carrying Value 400,000.00 90,091.25 309,928.75 96,397.63 213,511.12 103, 145.47 112,365.65 110,365.65 0.00 If you do not get this answer review your worksheet and formulas and try again Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse". Next click "Save". You will use this worksheet to answer questions in Part 2 upload a response file (15MB max) download reference file Spioetand 50_applyingexcel_cht-1 xlsx LU MIY --- 8 . 1 How de Grant INC be M D $115 1.2001 1.11.2011 B 11, DE TO Vio IN Patents ate translaam De 2011 Malacardial releast a Dec 31, 2017 CIA, - aahuraman parihaprada hreat , ( Bunt Work Required information The following information applies to the questions displayed below) In this Applying Excel exercise you will use Excel to create an amortization table, learn how to use the PMT function, and prepare the journal entries related to the issuance of an installment note Watch the tutorial video and then complete Parts 1 and 2 to practice and apply the skills demonstrated in the video Download the "Applying Excel' worksheet below and save it to your computer. View the tutorial video, and then complete the worksheet. Enter formulas in cells that contain question marks (only use formulas). After entering formulas in all of the cells that contain question marks, verify that the amounts match the example below. talumnate the amortivation chartela (a) Complete the amortization schedule Date Cash Paid Interest Expense Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 115,436.60 115,436.60 115,436.60 115,436.60 24,000.00 18,513.80 12,698.44 6,534.15 Decrease in Carrying Value Carrying Value 400,000.ee 91, 436.60 308,563.40 96,922.79 211,640.61 102,738.16 108,902.45 108,902.45 0.00 (b) Record issuance of the note Credit Debit 400,000.00 Cash Notes Payable 400,000.00 (c) Record the first installment payment Credit Dec. 31, 2021 Interest Expense Notes Payable Cash Debit 24,000.00 91, 436.60 115,436.60 (d) Record the second installment payment (d) Record the second installment payment Credit Dec. 31, 2022 Interest Expense Notes Payable Cash Debit 18,513.89 96,922.79 115,436.60 Change your worksheet setup so that the annual interest rate is 7%. You should not have the following: (a) Complete the amortization schedule Interest Decrease in Date Cash Paid Expense Carrying Value Carrying Value 400,000.00 Dec. 31, 2021 118, 091.25 28,000.00 90,091.25 309,988.75 Dec. 31, 2022 118,091.25 21,693.61 96,397.63 213,511.12 Dec. 31, 2023 118,091.25 14,945.78 103, 145.47 110,365.65 Dec. 31, 2024 118,891.25 7,725.60 110,365.65 0.00 If you do not get this answer, review your worksheet and formulas and try again Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse". Next click Save". You will use this worksheet to answer questions in Part 2 Required information Date Cash Paid Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 118, 091.25 118, 091.25 118,091.25 118,091.25 Interest Expense 28,000.00 21,693.61 14,945.78 7,725.60 Decrease in Carrying Value Carrying Value 400,000.00 90,091.25 309,928.75 96,397.63 213,511.12 103, 145.47 112,365.65 110,365.65 0.00 If you do not get this answer review your worksheet and formulas and try again Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse". Next click "Save". You will use this worksheet to answer questions in Part 2 upload a response file (15MB max) download reference file Spioetand 50_applyingexcel_cht-1 xlsx LU MIY --- 8 . 1 How de Grant INC be M D $115 1.2001 1.11.2011 B 11, DE TO Vio IN Patents ate translaam De 2011 Malacardial releast a Dec 31, 2017 CIA, - aahuraman parihaprada hreat , ( Bunt Work