O On January 1 Year 1, Beatle Co. borrowed $220,000 cash from Central Bank by issuing a five-year, 7 percent note. The principal and Interest are to be paid by making annual payments in the amount of $53,656. Payments are to be made December 31 of each year, beginning December 31, Year 1 Required Prepare an amortization schedule for the interest and principal payments for the five-year period (Round your answers to the nearest dollar amount.) 19.30 BEATIE CO Amortization Schedule Cash Payments Applied to Interest December 31 Principal Balance on January 1 Year Applied to Principal Principal Balance End of Period Year 1 Year 2 Year 3 Year 4 Years