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On January 1, 2017, Eagle borrows $35,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $10,333, consisting of

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On January 1, 2017, Eagle borrows $35,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $10,333, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020. Prepare an amortization table for this installment note. (Round all amounts to the nearest whole dollar.) Payments (A) (B) (C) (D) (E) Beginning Debit interest Balance Expense $ 35,000 $ 2.450 Debit Notes Payable Period Ending Date 2017 2018 2019 2020 Credit Cash 10,333 Ending Balance $ 5 $ 35,000 $ 35.000 $ 10,333 10,333 10.333 41,332 0 24,667 22.217 $ Total $

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