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Entries for installment Note Transactions On January 1, Year 1, Bryson Company obtained a $147,750, four-year, 7% Installment nate from Campbell Bank. The note requires

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Entries for installment Note Transactions On January 1, Year 1, Bryson Company obtained a $147,750, four-year, 7% Installment nate from Campbell Bank. The note requires annual payments of $43,620, beginning on December 31, Year 1. a. Prepare an amortization table for this installment note, similar to the one presented in Exhibit 4. Round the computation of the interest expense to the nearest whole dollar. Enter all amounts as positive numbers. (Note: Due to rounding, the 12/31/Year 4 Interest expense is provided) Amortization of Installment Notes Interest Expense Ending (7% of January 1 December January 1 Note Payment Carrying Amount (Cash Paid) Year Note Carrying Amount) Decrease Notes Payi 31 Year 1

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