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show calculations please Part 6: On January 1, 2017, a company borrows $1,000 cash by signing a four-year, 5% installment note. The note requires four

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Part "6": On January 1, 2017, a company borrows $1,000 cash by signing a four-year, 5% installment note. The note requires four equal payments of $282, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020. Requirements: 1. Prepare an amortization table for this installment note like the one in Lecture Sheet 9 (Exercise 2). 2. Prepare journal entries to record the loan on January 1, 2017, and the four payments from December 31, 2017, through December 31, 2020. Part"6": Requirements: 1. Prepare an amortization table for this installment note like the one in Lecture Sheet 9 (Exercise 2). Payment Date Remaining value of the loan (at the beginning of the | period) (A) Installment paid Part of the Part installment Installment pald to repay the paldas Interest original loan (D- B-C) (C- A Interest Rate) Remaining value of the loan (at the end of the period) (E-A-D) (B) Jan. 14 2017 (NOW) Dec. 314 2017 Dec. 314 2018 Dec. 31M 2019 Dec. 31 2020 2. Prepare journal entries to record the loan on January 1, 2017, and the four payments from December 31, 2017, through December 31, 2020. 13

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