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On December 31, 2020, Swifty Inc. rendered services to Beghun Corporation at an agreed price of $123,415, accepting $49,000 down and agreeing to accept the
On December 31, 2020, Swifty Inc. rendered services to Beghun Corporation at an agreed price of $123,415, accepting $49,000 down and agreeing to accept the balance in four equal installments of $24,500 receivable each December 31. An assumed interest rate of 12% is imputed. (a1) Your answer is partially correct. 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, 2020 Schedule of Note Discount Amortization Interest Decrease Revenue Carrying Amount Cash Received Date 12/31/20 $ $ 12/31/21 24500 10001 10001 12/31/22 24500 12/31/23 24500 12/31/24 24500
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