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On January 1, 2017, Eagle borrows $20,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $5,905, consisting of

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On January 1, 2017, Eagle borrows $20,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $5,905, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020. (Table B1, 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 Period Ending Date 2017 2018 2019 2020 Total Beginning Debit Interest Debit Notes Expense Credit Ending Balance Payable Cash Balance 20,000

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