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please help!!!! NK, Inc, accepts a $370,000, 10% note from Anstead Products on January 1, 2018, and lends money to Anstead. NK will receive periodic,
please help!!!! NK, Inc, accepts a $370,000, 10% note from Anstead Products on January 1, 2018, and lends money to Anstead. NK will receive periodic, equal payments every 6 months, beginning June 30. The loan matures in 3 years (on December 31, 2020) and the interest rate equals the market rate of 10%. NK is a calendar-year fim and prepares financial statements annually. Prepare the amortization table and the journal entries for the first year. Prepare the amortization table. (Round each calculation to the nearest whole number and then use the rounded value fo a $0 amount, make sure to enter "O" in the appropriate column.) Note Effective Interest Principal Reduction Payment Received Date Balance 370,000 18,500 At inception June 30, 2018 December 31, 2018 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020 NK, Inc, accepts a $370,000, 10% note from Anstead Products on January 1, 2018, and lends money to Anstead. NK will receive periodic, equal payments every 6 months, beginning June 30. The loan matures in 3 years (on December 31, 2020) and the interest rate equals the market rate of 10%. NK is a calendar-year fim and prepares financial statements annually. Prepare the amortization table and the journal entries for the first year. Prepare the amortization table. (Round each calculation to the nearest whole number and then use the rounded value fo a $0 amount, make sure to enter "O" in the appropriate column.) Note Effective Interest Principal Reduction Payment Received Date Balance 370,000 18,500 At inception June 30, 2018 December 31, 2018 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020
please help!!!!
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