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Required informetion Problem 10-26A (Algo) Effect of an installment note on financial statements LO 10-1 [The following information applies to the questions displayed below] On

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Required informetion Problem 10-26A (Algo) Effect of an installment note on financial statements LO 10-1 [The following information applies to the questions displayed below] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $102,000 face-value, four-year term note that had an 7 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,113 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 $54,000 cash per year. Problem 10-26A (Algo) Port o Required 0. Prepare an amortization schedule for the four-year period (Round intermediate colculations to nearest dollar omount. Round your answers to the neorest dollor amount)

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