On January 1, Year 1, Beatie Company borrowed $340,000 cash from Central Bank by issuing a five-year, 6 percent note. The principa and interest are to be paid by making annual payments in the amount of $80,715. 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 neares dollar amount.) BEATIE COMPANY Amortization Schedule $340,000, 5-Year Term Note, 6% Interest Rate Principal Cash Payments Applied to Applied to Principal Year Balance Balance December 31 Interest Principal on January 1 + End of Period Year 1 Year 2 Year 3 Year 4 Year 5