On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $105,000 face-value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,302 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $57,000 cash per year.

Required a. Prepare an amortization schedule for the four-year period. (Round intermediate calculations to nearest dollar amount. Round your answers to the nearest dollar amount.)

BROWN COMPANY
Amortization Schedule
$105,000, 4-Year Term Note, 6% Interest Rate
Year	Principal Balance on January 1	Cash Payment December 31	Applied to Interest	Applied to Principal	Principal Balance End of Period
Year 1
Year 2
Year 3
Year 4