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On January 1, 2019, Eagle Company borrows $30,000 cash by signing a four-year, 7% Installment note. The note requires four equal payments of $8,857, consisting

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On January 1, 2019, Eagle Company borrows $30,000 cash by signing a four-year, 7% Installment note. The note requires four equal payments of $8,857, 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.) (D) Credit Cash (E) Ending Balance Payments (A) (0) (C) Period Ending Beginning Debit interest Debit Notes Date Balance Expense Payable 2010 $ 30,000 $ 2,100 $ 6,7571 2020 23,243 1,627 7.230 2021 16.013 1.121 7,736 2022 8.277 Total $ 4,840 0

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