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On January 1, 2017, Eagle borrows $19,000 cash by signing a four-year, 8% installment note. The note requires four equal total payments of accrued interest

On January 1, 2017, Eagle borrows $19,000 cash by signing a four-year, 8% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2017 through 2020. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.)

Prepare an amortization table for this installment note.

Payments
(A) (B) (C) (D) (E)
Period
Ending Beginning Debit Interest Debit Notes Credit Ending
Date Balance Expense Payable Cash Balance
2015
2016
2017
2018
Total $0 $0

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