On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $62,500 face value, four-year term note that had an 9 percent annual interest rate. The note is to be repaid by making annual cash payments of $19,292 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $30,625 cash per year.

Prepare an amortization schedule for the four-year period. (Round your answers to the nearest whole dollar amount.)

BROWN CO.
Amortization Schedule
Year	Principal Balance on January 1	Cash Payments December 31	Applied to Interest	Applied to Principal	Principal Balance End of Period
2018	not attempted*	not a	not a	not a	not a
2019	not a	not a	not a	not a	not a
2020	not a	not a	not a	not a	not a
2021	not a	not a	not a	not a

Organize the information in accounts under an accounting equation. (Round your answers to the nearest whole dollar amount. Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles / Retained Earnings, leave the cell blank.)

BROWN CO.
Effect of Events on the Accounting Equation
2018, 2019, 2020 and 2021
Event	Assets			=	Liabilities	+	Stockholders' Equity	Accounts Titles / Retained Earnings
	Cash	+	Land	=	Notes Payable	+	Retained Earnings
2018
1/1	not a	+not a	not a	=not a	not a	+not a	not a	not a
1/1	not a	+not a	not a	=not a	not a	+not a	not a	not a
12/31	not a	+not a	not a	=not a	not a	+not a	not a	not a
12/31	not a	+not a	not a	=not a	not a	+not a	not a	not a
Bal.	0	+	0	=	0	+	0
2019
Beg. bal.	not attempted	+	not attempted	=	not attempted	+	not attempted
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not attempted	not attempted	not attempted
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not attempted	not attempted	not attempted
End. bal.	0	+	0	=	0	+	0
2020
Beg. bal.	not attempted	+	not attempted	=	not attempted	+	not attempted
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not attempted	not attempted	not attempted
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not attempted	not attempted	not attempted
End. bal.	0	+	0	=	0	+	0
2021
Beg. bal.	not attempted	+	not attempted	=	not attempted	+	not a
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not a	not a	not a
12/31	not attempted	+not attempted	not attempted	=not attempted	not attempted	+not a	not a	not a
End. bal.	0	+	0	=	0	+	0