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I need help solving this worksheet On October 1, 2022, Ryan acquired some land for $200,000. He paid a down payment of $20,000 and signed
I need help solving this worksheet
On October 1, 2022, Ryan acquired some land for $200,000. He paid a down payment of $20,000 and signed a ten year, 6% loan payable for the balance. Monthly blended payments of $1,998 are required on the first of each month, starting November 1 . Required 1: Prepare the loan amortization table for the first 3 months. Round all amounts to whole numbers Required 2: Prepare the journal entries required on October 14, October 31" (year end) and November It t.. Round all amounts to whole numbers. October 1: October 31: November I: Required 3: What are the current and non-current (long-term) portions of the loan at October 31, 2022 (i.e. what would be shown on the balance sheet in the current and non-current section)? Note: you probably have to do further calculations to have these numbers. Round all amounts to whole numbers Step by Step Solution
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