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Please provide correct answer and double check your calculation. Bramble Manufacturing inc. intends to finance the acquisition of new manufacturing equipment that costs $174,000 by
Please provide correct answer and double check your calculation.
Bramble Manufacturing inc. intends to finance the acquisition of new manufacturing equipment that costs $174,000 by issuing a fiveyear, 3.50% note payable. The note would be issued on January 1, 2024, Bramble's year end is December and the note would require annual payments on December 31 . The finance company has given Bramble the choice of making blended payments of $38,538, or making fixed payments of $34,800 plus interest. (a) Assuming the blended payment option is selected, prepare the amortization table for the first two years of the note payable: Record the issue of the note and the December 31, 2024, payment under this alternative. (Credit account titles ane automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries, Record journal entries in the order presented in the problem.) Step by Step Solution
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