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On 1/1/X1 you borrowed $80,000 at an 8% Interest rate for 4 years. The loan agreement indicates that the quarterly payments should be made on
On 1/1/X1 you borrowed $80,000 at an 8% Interest rate for 4 years. The loan agreement indicates that the quarterly payments should be made on 31/3, 30/6, 30/9, and 31/12, with an amount of $5,892 per payment. Based on the above-given information: 1. Prepare a loan amortization table 2. Prepare all the required journal entries. 3. Determine the value of current liabilities and non- current liabilities as of 31/12/x1, 31/12/X2, 31/12/x3, and 31/12/x4
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