Use the following information for the Exercises below. (Algo)

Skip to question

[The following information applies to the questions displayed below.]

On January 1, 2020, Eagle Company borrows $26,000 cash by signing a four-year, 8% installment note. The note requires four equal payments of $7,850, consisting of accrued interest and principal on December 31 of each year from 2020 through 2023.

Exercise 10-12 (Algo) Installment note amortization table LO C1

Prepare an amortization table for this installment note.