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Please help correct, solve & explain problem (A2). I'm not sure what I did wrong. used problem (A1) for reference. Thanks On December 31,2025 ,
Please help correct, solve & explain problem (A2). I'm not sure what I did wrong.
used problem (A1) for reference.
Thanks
On December 31,2025 , Coronado Inc. rendered services to Beghun Corporation at an agreed price of $113,785, accepting $44,600 down and agreeing to accept the balance in four equal installments of $22,300 receivable each December 31. An assumed interest rate of 11% is imputed. Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to 0 decimal places, e.g. 5,275.) Your answer is correct. Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to 0 decimal places, e.g. 5,275 .) Prepare the entry that would be recorded by Coronado Inc. for the sale on December 31,2025 . (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)Step by Step Solution
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