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Problem 7-8 (Part Level Submission) On December 31, 2017, Nash Inc. rendered services to Beghun Corporation at an agreed price of $115,355, accepting $45,800 down
Problem 7-8 (Part Level Submission) On December 31, 2017, Nash Inc. rendered services to Beghun Corporation at an agreed price of $115,355, accepting $45,800 down and agreeing to accept the balance in four equal installments of $22,900 receivable each December 31, An assumed interest rate of 12% is imputed (a1) Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to O decimal places, e.g. 5,275.) December 31, 2017 Schedule of Note Discount Amortization Cash Received Interest Revenue Carrying Amount of Note Date 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21
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