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need help , please answer each 2018-2021. Explain the process. Required Information (The following information applies to the questions displayed below.) On January 1, 2018,
need help , please answer each 2018-2021. Explain the process.
Required Information (The following information applies to the questions displayed below.) On January 1, 2018, Brown Co, borrowed cash from First Bank by Issuing a $59,000 face value, four-year term note that had an 8 percent annual Interest rate. The note is to be repald by making annual cash payments of $17,813 that include both Interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $27,140 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round your answers to the nearest whole dollar amount.) BROWN CO. Amortization Schedule Principal Balance Cash Payments Applied to on January 1 December 31 Interest Year Applied to Principal Principal Balance End of Period 2018 2019 2020 2021 Step by Step Solution
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