Norwood borrows 520000 cash from a bank by signing a five year installment note bearing 6% interest. The note requires equal total pavement each year on October 31.

Initial cash proceeds- 520000

PV factor- 4.2124

Amount of annual payment- 123445

Complete an amortization table for this installment note.

2. Complete an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.) Period Ending Beginning Debit Interest +Debit Notes Ending Credit Cash Balance Date 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 Total Balance Expense Partble