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Exercise 102A (Algo) Amortization schedule for an installment note LO 101 On January 1, Year 1, Beatie Company borrowed $400,000 cash from Central Bank by
Exercise 102A (Algo) Amortization schedule for an installment note LO 101 On January 1, Year 1, Beatie Company borrowed $400,000 cash from Central Bank by issuing a five-year, 5 percent note and interest are to be paid by making annual payments in the amount of $92,390. Payments are to be made December year, beginning December 31 , Year 1 . Required Prepare an amortization schedule for the interest and principal payments for the five-year period. Note: Round your answers to the nearest dollor amount
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