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Required information [The following information applies to the questions displayed below.] On January 1, 2021, Eagle Company borrows $26,000 cash by signing a four-year, 8%
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Eagle Company borrows $26,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,850, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Prepare an amortization table for this installment note. Note: Round all amounts to the nearest whole dollar. Payments Period Ending (A) Beginning (B) Debit Interest (C) Debit Notes Balance Expense Payable Date 2021 2022 2023 2024 Total GA $ 10 4 (D) Credit Cash $ 0 (E) Ending Balance
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