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On December 31, 2017, Larkspur Inc. rendered services to Beghun Corporation at an agreed price of $105,876, accepting $41,500 down and agreeing to accept the
On December 31, 2017, Larkspur Inc. rendered services to Beghun Corporation at an agreed price of $105,876, accepting $41,500 down and agreeing to accept the balance in four equal installments of $20,750 receivable each December 31. An assumed interest rate of 11% is imputed Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to O decimal places, e.g. 5,275.) December 31, 2017 Schedule of Note Discount Amortization Cash Received Interest Revenue Carrying Amount of Note Date 12/31/17 s 12/31/18 12/31/19 12/31/20 12/31/21
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