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Halep Inc. borrowed $54,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $14,876.46 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 $ $ $ $ $ 2           3

Halep Inc. borrowed $54,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $14,876.46 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 $ $ $ $ $ 2           3

Principles of Accounting Volume 1
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 $54,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $14,876.46 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 $ $ $ $ $
2          
3          
4          

 

Halep Inc. borrowed $54,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $14,876.46 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 3 4
Transcribed Image Text:Halep Inc. borrowed $54,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $14,876.46 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 3 4
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