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It says the answer is not completed so can you help me with what I am missing? (The following information applies to the questions displayed
It says the answer is not completed so can you help me with what I am missing?
(The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Accounting Period 2018 2019 2020 Principal Balance January 1 $ 103,000 86, 129 67,571 Cash Payment $27, 171 27, 171 27, 171 Applied to Interest $10,300 8,613 6,757 Applied to Principal $16,871 18,558 20,414 b. Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank.) (1) January 1, 2018, issue of the note payable. (2) December 31, 2018, payment on the note payable. Event No. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Liabilities + Stockholder's Equity Revenue - Expense = Net Income 103,000 + (16,871) (10,300) 10,300 (10,300) Statement of Cash Flow = 103,000 = (27,171) 2. 1 (27,171) FAStep by Step Solution
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