Monthly loan Borrow S100,000 for ten years at interest with monthly payments of S 1.110.21 (Work to two decimal places here) Borming Dats. Dr. Cash $100,000 Cr Notes Payable $100,000 Up front, we prepare an Amortization Schedule for the life of the loan (iten years) (1) Complete the chart for the first three months of the loan (2) Then assume on 4/1 2021 the company paid an additional payment of $3.000 that will go toward the principal of the loan. Fill in the appropriate amounts on the char (3) When will the next payment be due? How much will be for? How will that payment be split in terms of interest and principal (Complete the last line of the chan, including catering the date) (4) Prepare joumal entries only for the initial loan, the first two payments and the additional payment Show all supporting calculations Journal entries ** Monthly loan Borrow S100,000 for ten years at interest with monthly payments of S 1.110.21 (Work to two decimal places here) Borming Dats. Dr. Cash $100,000 Cr Notes Payable $100,000 Up front, we prepare an Amortization Schedule for the life of the loan (iten years) (1) Complete the chart for the first three months of the loan (2) Then assume on 4/1 2021 the company paid an additional payment of $3.000 that will go toward the principal of the loan. Fill in the appropriate amounts on the char (3) When will the next payment be due? How much will be for? How will that payment be split in terms of interest and principal (Complete the last line of the chan, including catering the date) (4) Prepare joumal entries only for the initial loan, the first two payments and the additional payment Show all supporting calculations Journal entries ** Monthly loan Borrow S100,000 for ten years at interest with monthly payments of S 1.110.21 (Work to two decimal places here) Borming Dats. Dr. Cash $100,000 Cr Notes Payable $100,000 Up front, we prepare an Amortization Schedule for the life of the loan (iten years) (1) Complete the chart for the first three months of the loan (2) Then assume on 4/1 2021 the company paid an additional payment of $3.000 that will go toward the principal of the loan. Fill in the appropriate amounts on the char (3) When will the next payment be due? How much will be for? How will that payment be split in terms of interest and principal (Complete the last line of the chan, including catering the date) (4) Prepare joumal entries only for the initial loan, the first two payments and the additional payment Show all supporting calculations Journal entries ** Monthly loan Borrow S100,000 for ten years at interest with monthly payments of S 1.110.21 (Work to two decimal places here) Borming Dats. Dr. Cash $100,000 Cr Notes Payable $100,000 Up front, we prepare an Amortization Schedule for the life of the loan (iten years) (1) Complete the chart for the first three months of the loan (2) Then assume on 4/1 2021 the company paid an additional payment of $3.000 that will go toward the principal of the loan. Fill in the appropriate amounts on the char (3) When will the next payment be due? How much will be for? How will that payment be split in terms of interest and principal (Complete the last line of the chan, including catering the date) (4) Prepare joumal entries only for the initial loan, the first two payments and the additional payment Show all supporting calculations Journal entries **
