On January 1, 2019, Eagle Company borrows $26,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,850, consisting
On January 1, 2019, Eagle Company borrows $26,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,850, consisting of accrued interest and principal on December 31 of each year from 2019 through 2022. Prepare an amortization table for this installment note. (Round all amounts to the nearest whole dollar.)
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