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On January 1, $41,000 cash is borrowed from a bank in return for a 8% installment note with 36 monthly payments of $1,285 each (1)

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On January 1, $41,000 cash is borrowed from a bank in return for a 8% installment note with 36 monthly payments of $1,285 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 3 Prepare an amortization table for the first three months of this installment note, (Round your answers to the nearest whole dollar) (A) Beginning Balance Payments (1) Debit interest (C) Debit Notes Expense Payable (D) Credit Cash (E) Ending Balance Period Ending Date January 31 February 20 March 31 Required 2 > On January 1, $41,000 cash is borrowed from a bank in return for a 8% installment note with 36 monthly payments of $1,285 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: Required 2 Required 3 Record the entry for Issuance of the note, View transaction list Journal entry worksheet 1 Record the entry for issuance of the note Nutenter debitshefore credits General Journal Debit Credit Datu January 01 On January 1, $41,000 cash is borrowed from a bank in return for a 8% installment note with 36 monthly payments of $1.285 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 3 Record the entry for the first interest payment and for the second interest payment. (Round your answers to the nearest whole dollar) View transaction list Journal entry worksheet

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