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*problem 10-13A Beryl Forman has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On
*problem 10-13A Beryl Forman has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2011, Beryl was loaned $269,000 at an annual interest rate of 5%. The loan is repayable over 5 years in annual installments of $62,132, principal and interest, due each June 30. The first payment is due June 30, 2012. Beryl uses the effective interest method for amortizing debt. Her ski hill company's year-end will be June 30. Prepare an amortization schedule for the 5 years, 2011-2016. (Round answers to 0 decimal places, e.g. 125.) Amount may be off due to rounding. Prepare all journal entries for Beryl Forman for the first 2 fiscal years ended June 30, 2012, and June 30, 2013. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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