On January 1, Year 1, Beatie Co. borrowed $270,000 cash from Central Bank by issuing a five-year, 5 percent note. The principal and interest are to be paid by making annual payments in the amount of $62,363. Payments are to be made December 31 of each year, beginning December 31, Year 1 Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BEATIE CO. Amortization Schedule $270,000, 5-Yr. Term Note, 5% Interest Rate Applied to Year Cash Pay. Dec. 31 Applied to Principal Prin Bal on Jan. 1 $ 270,000 Prin Bal End of Period Year 1 $ 62,363 $ 13,500 Year 4