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On January 1 , $ 4 5 , 0 0 0 cash is borrowed from a bank in return for a 1 0 % installment
On January $ cash is borrowed from a bank in return for a installment note with monthly payments of $ each.
Prepare an amortization table for the first three months of this installment note.
Record the entry for issuance of the note.
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.
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Prepare an amortization table for the first three months of this installment note.
Note: Round your answers to the nearest whole dollar.
tablePaymentstablePeriod EndingDatetableA BeginningBalancetableB Debit InterestExpensetableC Debit NotesPayabletableD CreditCashtableE EndingBalanceJanuary February March
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