On January 1, Year 1. Beatle Co borrowed $390,000 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 $90,080. 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 Cash Payments Applied to Interest December 31 Principal Balance on January 1 Year Applied to Principal Principal Balance End of Period Year 1 Year 2 Year 3 Year 4 Year 5 hces