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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

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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 $117,000 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 $35,325 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 $69.000 cash per year. Required a. Prepare an amortization schedule for the four-year period (Round Intermediate calculations to nearest dollar amount Round your answers to the nearest dollar amount.) BROWN COMPANY Amortization Schedule $117,000, 4-Year Term Note 6% Interest Rate Principal Balance Cash Payment Applied to Applied to December 31 Interest Principal on January 1 Year Principal Balance End of Period Year 1 Year 2 Your 3 Year 4

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