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Required information [The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on
Required information [The following information applies to the questions displayed below.) A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, 2018, is shown as follows. Cash Accounting Period 2018 2019 2020 Principal Balance January 1 $115.000 96,534 76,037 Payment $31,116 31,116 31,116 Applied to Interest $12,650 10,619 8,364 Applied to Principal $18,466 20.497 22,752 b. Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter a decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows operating activities (OA), Investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank.) (1) January 1, 2018, Issue of the note payable. (2) December 31, 2018, payment on the note payable. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Stockholders Revenue - Expense Net Income Equity Statement of Cash Flow lacBook Air ( wER TYTUTO
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