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On December 31,2017, Headland Inc. rendered services to Beghun Corporation at an agreed price of $ 107,016, accepting $ 41,400 down and agreeing to accept
On December 31,2017, Headland Inc. rendered services to Beghun Corporation at an agreed price of $ 107,016, accepting $ 41,400 down and agreeing to accept the balance in four equal installments of $20,700 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) of You Answered Correct Answer 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 12/31/18 12/31/19 12/31/20 12/31/21 65,616 20,700 20,700 20,700 20,700 6,562 5,148 3,593 881 1,478 5,926 18,819
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