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I know the answers are n/r 400,000 discount n/r 178,835.03 service rev 221,164.97 but how would i set up an amortization schedule? It rendered services
I know the answers are
n/r 400,000
discount n/r 178,835.03
service rev 221,164.97
but how would i set up an amortization schedule?
It rendered services in exchange for a 3%, 8-year promissory note having a face value of $400,000 (interest payable annually).
Agincourt Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest.
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