On April 1, 2022 Alexander Company purchased a new company car. The company put $2,000 cash down and took a loan for $15,000 at 6%, five years, payments of $289.99

(Work to two decimal places here)

Journal Entry for Purchase Date:

Prepare an Amortization Schedule for the life of the loan. (6%, five years)

Date	Beginning Loan Balance	(Debit) Interest Expense	(Debit) Notes Payable	(Credit) Cash	Ending Balance
4/1/2022	0				15,000.00
4/30/2022				289.99
5/31/2022				289.99
6/30/202				289.99
What if you wanted to try to pay this off more quickly? What if you paid an extra $1,000 on 7/1/2022? What happens with that payment? When will your next payment be due?
7/1/2022				1,000.00
??				??