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Installment Notes Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January. Dandy will make 12 monthly payments of
Installment Notes Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January. Dandy will make 12 monthly payments of $3,914.50 at the end of each month. Required: Prepare the amortization table using the effective interest rate method. Round your answers to two decimal places. And, round final year, if necessary, to complete the amortization. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "O". Dandy Candy Amortization Table Cash Interest Reduction of Note Payment Expense Note Payable Payable (Credit) (Debit) (Debit) Balance Period At issue 01/31/25 1110 02/28/25 03/31/25 04/30/25 05/31/25 06/30/25 07/31/25 08/31/25 09/30/25 10/31/25 11011 11/30/25 oli 12/31/25
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