Halep Inc. borrowed $26,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $7,162.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Round your answers to two decimal places. Year Beginning Balance Payment Interest To Principal Ending Balance 1 $fill in the blank 1  $fill in the blank 2  $fill in the blank 3  $fill in the blank 4  $fill in the blank 5  2 fill in the blank 6  fill in the blank 7  fill in the blank 8  fill in the blank 9  fill in the blank 10  3 fill in the blank 11  fill in the blank 12  fill in the blank 13  fill in the blank 14  fill in the blank 15  4 fill in the blank 16  fill in the blank 17  fill in the blank 18

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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Halep Inc. borrowed $26,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $7,162.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Round your answers to two decimal places.

Year Beginning
Balance
Payment Interest To Principal Ending
Balance
1 $fill in the blank 1  $fill in the blank 2  $fill in the blank 3  $fill in the blank 4  $fill in the blank 5 
2 fill in the blank 6  fill in the blank 7  fill in the blank 8  fill in the blank 9  fill in the blank 10 
3 fill in the blank 11  fill in the blank 12  fill in the blank 13  fill in the blank 14  fill in the blank 15 
4 fill in the blank 16  fill in the blank 17  fill in the blank 18
Halep Inc. borrowed $26,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments
$7,162.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Round your answers to two decimal places.
Beginning
Ending
Year
Balance
Payment
Interest
To Principal
Balance
1
$
$
$
2
4
Transcribed Image Text:Halep Inc. borrowed $26,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments $7,162.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Round your answers to two decimal places. Beginning Ending Year Balance Payment Interest To Principal Balance 1 $ $ $ 2 4
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