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[The following information applies to the questions displayed below.] On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $71,500 face

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[The following information applies to the questions displayed below.] On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $71,500 face value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $20,634 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 $33,605 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round your answers to the nearest whole dollar amount.) BROWN CO. Amortization Schedule Cash Payments Applied to December 31 Interest Year Principal Balance on January 1 Applied to Principal Principal Balance End of Period 2018 2019 2020 2021

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