Ranch Company loaned $40,000 cash to a supplier on January 1, 2016. The loan had an annual interest rate of 8.000%. The loan will be completely repaid (including interest) with 20 equal quarterly payments beginning on March 31, 2016. Prepared the amortization schedule.

Amount of Loan				$40,000.00
Annual Interest Rate				8.00%
Number of quarterly payments				20
Quarterly Payment
					Change in		Loan
Date	Cash	Interest			Loan Balance		Balance
1/1/16							$40,000.00
3/31/16
6/30/16
9/30/16
12/31/16
3/31/17
6/30/17
9/30/17
12/31/17
3/31/18
6/30/18
9/30/18
12/31/18
3/31/19
6/30/19
9/30/19
12/31/19
3/31/20
6/30/20
9/30/20
12/31/20

Amount of interest revenue for 2017
Total receivable on 12/31/2017
Current portion- receivable on 12/31/2017
Interest Revenue-Year ended 6/30/2017