Problem 7-08 On December 31, 2020, Grouper Inc. rendered services to Beghun Corporation at an agreed price of $107,016, accepting $41,400 down and agreeing to accept the balance in four equal installments of $20,700 receivable each December 31. An assumed interest rate of 10% 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.) December 31, 2020 Schedule of Note Discount Amortization Interest Decrease Carrying Am Cash Received Carrying Amount of Note Date 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 WTB ACCOUNTS LIETOTT Prepare the entries that would be recorded by Grouper Inc. for the sale on December 31, 2020. (Round answers to decimal places, e.g. 5,275. 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.) SHOW INTO ACCOUNT LITTERT Prepare the entries that would be recorded by Grouper Inc. for the (a) receipts and (b) interest on December 31, 2021. (Round answers to o decimal places, e.g. 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) ca) (0) LETTER Prepare the entries that would be recorded by Grouper Inc. for the (a) receipts and (b) interest on December 31, 2022. (Round answers to O decimal places, e.g. 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 no indent manually.) New up (A) (D) HOW INTO ACCOUNT Prepare the entries that would be recorded by Grouper Inc. for the (a) receipts and (b) interest on December 31, 2023. (Round answers to o decimal places, e.g. 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 no indent manually.) No Te Esplan ta) (0) SHOW LIST OF ACCOUNT LIETOTT Prepare the entries that would be recorded by Grouper Inc. for the (a) receipts and (b) interest on December 31, 2024. (Round answers to O decimal places, e.g. 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 no indent manually.) Newsplus Click if you would like to Show Work for this questioni sono SHWEST OF ACCOUNTS LINTO TEXT
