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LO10-4 PROBLEM 10.4B Preparation and Use of an On October 1,2015, Jenco signed a four-year, $100,000 note payable to Vicksh in conjunction with the purchase

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LO10-4 PROBLEM 10.4B Preparation and Use of an On October 1,2015, Jenco signed a four-year, $100,000 note payable to Vicksh in conjunction with the purchase of equipment. The note calls for interest at anu 12 percent (I percent per month). The note is fully amortizing over a period of 48 months payments The bank sent Jenco an amortization table showing the allocation of monthly interest and principal over the life of the loan. A small part of this amortization table below. (For convenience, amounts have been rounded to the nearest dollar) Amortization Table

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