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On July 1, 2020, Swifty Ltd, borrowed $12,500 by signing a two-year, 6% note payable. The note is payable in two annual instalments of $6,818

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On July 1, 2020, Swifty Ltd, borrowed $12,500 by signing a two-year, 6% note payable. The note is payable in two annual instalments of $6,818 on June 30. The company records adjusting journal entries annually at year end on December 31 (a) Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, es, 5.255) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal July 1. 2020 June 30. 2021 June 30. 2022 (b) The parts of this question must be completed in order. This part will be available when you complete the part above (c) The parts of this question must be completed in order. This part will be wailable when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above

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