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On December 31, 2017, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the

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On December 31, 2017, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 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 0 declmal places, e.g. s,275) December 31 2017 Amount of Note 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 Prepare the entries that would be recorded by Oakbrook Inc. for the sale on December 31, 2017. (Round answers to o decimal places, e.g. 5,275, If no entry is reguired, select "No Entry for the account titles and enter O for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent Accoant Titles and Explanation Cash Notes Receivable 40,000 80,000 7,951 Service Revenue Prepare the entries that would be recorded by Oakbrook Inc. for the (a) receipts and (b) interest on December 31, 2018 (Round answers to 0 decimal places, e.g. S,275. If no entry is required, select "No Entry for the account bitles and enter 0 for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manualy Na. Account Tiles and Esplanatios Prepare the entries that would be recorded by Oakbrook Inc. for the (a) receipts and (b) interest on December 31, 2019 (Round answers to 0 decimal places, e.g. 5,27S. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account tities are automatically indented when the amount is entered. De not indent manualy.) No. Accaust Titles and Explanaties Prepare the entries that would be recorded by Oakbrook Inc. for the (a) receipts and (b) interest on December 31, 2020. (Round answers to O decimal places, e.g.5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Prepare the entries that would be recorded by Oakbrook Inc. for the (a) receipts and (b) interest on December 31, 2021. (Round answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit

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