On January $1,$ Year $1,$ Mayberry Company borrowed cash from Central Bank by issuing a $$75,500$ face value $3-$year installment note payable that carried a $9\%$ interest rate. The note is to be repaid by making annual cash payments of $$29,826\mathrm{.}63,$ which includes both principal and interest. The payments are to be made on December $31$ of each year.

Required:

a$)$ Prepare an amortization schedule for the term of the loan, showing the amounts to be paid on principal and interest for Year $1,$ Year $2,$ and Year $3$ and the loan balance at the end of each year.

Note: Enter all your values as positive values. Round your answers to $2$ decimal places. To fully liquidate the liability, the final payment may need to be adjusted slightly because of rounding differences.Required information

$[$The following information applies to the questions displayed below.$]$

On January $1,$ Year $1,$ Mayberry Company borrowed cash from Central Bank by issuing

a $$75,500$ face value $3-$year installment note payable that carried a $9\%$ interest rate.

The note is to be repaid by making annual cash payments of $$29,826\mathrm{.}63,$ which

includes both principal and interest. The payments are to be made on December $31$ of

each year.

Required:

a$)$ Prepare an amortization schedule for the term of the loan, showing the amounts to be paid on

principal and interest for Year $1,$ Year $2,$ and Year $3$ and the loan balance at the end of each year.

Note: Enter all your values as positive values. Round your answers to $2$ decimal places. To fully

liquidate the liability, the final payment may need to be adjusted slightly because of rounding

differences.