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On January 1, 2022, a company borrowed $4,000 from a bank for 3 years at 6% interest. The company will repay the loan over the

On January 1, 2022, a company borrowed $4,000 from a bank for 3 years at 6% interest. The company will repay the loan over the 3 years with annual payments of $1,496.44.

The following amortization table has been partially prepared for you.

Period ending date Beginning Principal Balance Interest Expense Principal Decrease Cash Payment Ending Principal Balance
12/31/2022 A?? B?? C?? D?? E??
12/31/2023 F?? 164.61 1,331.83 1,496.44 1,411.73
12/31/2024 1,411.73 84.70 1,411.73 1,496.43 G??

Required: Using the information above, answer the following questions in the box provided. Show your work for any questions requiring a calculation.

1)What are the correct numbers for letters A,B,C, D, E, F and G? Do not complete a whole table, just list the letters and the numbers (show work for partial credit.

2)Insert a table with 4 columns and prepare the following journal entries:

- the entry for the issuance of the note on January 1 2022

- The entry for both the first and the last payments.

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