Problem 7-8 (Part Level Submission)

On December 31, 2017, Martinez Inc. rendered services to Beghun Corporation at an agreed price of $110,570, accepting $43,900down and agreeing to accept the balance in four equal installments of $21,950receivable each December 31. An assumed interest rate of12% is imputed.

(a1)

Prepare a

n amortization schedule. Assume that the effective-interest method is used for amortization purposes.

(Round answers to 0 decimal places, e.g. 5,275.)