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On January 1 , 2 0 2 3 , Martineau Corp. issued a 5 - year, 4 % installment note payable for $ 1 2
On January Martineau Corp. issued a year, installment note payable for $ to finance upgrading its current equipment. The companys year end is December The repayment of $ is done semiannually on January and July
Do not enter dollar signs or commas in the input boxes.
Round all answers to the nearest whole dollar.
Assuming an equal installment amount of $ fill in the following table and determine the total interest expense incurred over the year term. Note: Due to rounding, make the reduction of the principal in the last payment equal to the remaining principal balance. This will ensure the ending principal balance is $
Date Cash Payment Interest Expense Reduction of Principal Principal Balance
Jul Answer Answer Answer Answer
Jan Answer Answer Answer Answer
Jul Answer Answer Answer Answer
Jan Answer Answer Answer Answer
Jul Answer Answer Answer Answer
Jan Answer Answer Answer Answer
Jul Answer Answer Answer Answer
Jan Answer Answer Answer Answer
Ju Answer Answer Answer Answer
Jan Answer Answer Answer Answer
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