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TERM LOAN QUESTIONS a) Based on your prepared amortization schedule for Concert Time Again, Inc term loan, what is the remaining loan balance after the
TERM LOAN QUESTIONS a) Based on your prepared amortization schedule for Concert Time Again, Inc term loan, what is the remaining loan balance after the 4th payment AND which financial statement would that amount appear on? Type the financial statement (2 points) in the text box below and write the Dollar Amount on your PDE upload (3 points) Financial Statement b) Based on your prepared amortization schedule, what is the interest expense for this loan after the 4th payment AND which financial statement would this appear on? Assume the first 4 payments are in the same accounting period that is presented on the financial statement Type the financial statement (2 points) in the text box below and write the Dollar Amount on your PDF upload (3 points) Financial Statement TERM LOAN AMORTIZATION a Almost Concert Time, Inc. purchased new equipment with a $100,000 loan. The loan requires monthly payments of $1,933 for 5 years. The annual interest rate on the loan is 6%. *Required Prepare an amortization schedule for the first 4 payments. I do not suggest putting your schedule in the text box below, it will take you too long to format. No entry is needed in the text box. You will need to handwrite on your PDF upload of your calculations
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