On December 31, 2017, Teal Inc. rendered services to Beghun Corporation at an agreed price of $111,489, accepting $43,700down and agreeing to accept the balance in four equal installments of $21,850receivable each December 31. An assumed interest rate of11% is imputed.

Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes.(Round answers to 0 decimal places, e.g. 5,275.)