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Saved Help Sau Required information [The following information applies to the questions displayed below.] A partial amortization schedule for a 5-year note payable that Mabry
Saved Help Sau 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. Accounting Period 2018 2019 2020 Principal Balance January 1 $111,000 92,818 72,818 Cash Payment $29,282 29, 282 29,282 Applied to Applied to Interest Principal $11,100 $18, 182 9,282 20,000 7,282 22,000 b. Using a financial statements model like the one shown, record the appropriate amounts for the following two e (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, a the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or if there is no leave the cell blank.) (1) January 1, 2018, issue of the note payable. (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 Liabilities + Stockholder's Revenue Reve Equity Expense = Net Income Event No. Statement of Cash Flow Assets 1. 2
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