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On January 1, $36,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,196 each (1)
On January 1, $36,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,196 each (1) Prepare an amortization table for the first three months of this installment note (2) Record the entry for issuance of the note (3) Record the entry for the first interest payment and for the second interest payment Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare an amortization table for the first three months of this installment note. (Round your answers to the nearest whole dallar Payments (Bj Debit interest (C) Debit Notes Expense Payable (DJ Credit Cash (EJ Ending Balance Period Ending (A) Beginning Date Balance January 31 February 28 March 31 Required 2 > Required 1 Required 2 Required 3 Record the entry for issuance of the note. View transaction list Journal entry worksheet > Record the entry for issuance of the note. Note: Enter debits before credits. Debit Credit General Journal Date January 01 View general journal Clear entry Record entry Required 1 Required 2 Required 3 Record the entry for the first interest payment and for the second interest payment. (Round your answers to the View transaction list Journal entry worksheet > Record the first installment payment. Note: Enter debits before credits Debit Credit General Journal Date January 31 View general journal Clear entry Record entry Journal entry worksheet >
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