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Required information [ The following information applies to the questions displayed below. ] On January 1 , Year 1 , Brown Co . borrowed cash
Required information
The following information applies to the questions displayed below.
On January Year Brown Co borrowed cash from First Bank by issuing a $ face value, fouryear term note that
had an percent annual interest rate. The note is to be repaid by making annual cash payments of $ that include
both interest and principal on December of each year. Brown used the proceeds from the loan to purchase land that
generated rental revenues of $ cash per year.
Required
a Prepare an amortization schedule for the fouryear period. Round your answers to the nearest whole dollar amount.
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