On January 1, Year 1, Beatie Company borrowed $400,000 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 $92,390. 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 COMPANY
Amortization Schedule
$400,000, 5-Year Term Note, 5% Interest Rate
Year	Principal Balance on January 1	Cash Payments December 31	Applied to Interest	Applied to Principal	Principal Balance End of Period
Year 1
Year 2
Year 3
Year 4
Year 5