Question 1 & Question 2

On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $63,000 face value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $19,021 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $33,390 cash per year. o. Organize the information in accounts under an accounting equation. Note: Round your answers to the nearest whole dollar amount. Enter any decreases to account balances with a minus sign. Not all cells in the "Account Titles / Retained Earnings" column may require an input - leave cells blank if there is no corresponding input needed. Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $63,000 face value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $19,021 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $33,390 cash per year. Required a. Prepare an amortization schedule for the four-year period. Note: Round your answers to the nearest whole dollar amount