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On December 31, 2020, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $108,303, accepting $43,000 down and agreeing to accept the
On December 31, 2020, Windsor Inc. rendered services to Beghun Corporation at an agreed price of $108,303, accepting $43,000 down and agreeing to accept the balance in four equal installments of $21,500 receivable each December 31. An assumed interest rate of 12% is imputed. (21) 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.) December 31, 2020 Schedule of Note Discount Amortization Interest Decrease Revenue Carrying Amount Cash Received Carrying Amount of Note Date 12/31/20 $ 0 $ 6530 12/31/21 21500 12/31/22 21500 12/31/23 21500 12/31/24 21500
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