1 Exercise 10-2A Amortization schedule for an installment note LO 10-1 oints On January 1, Year 1, Beatie Co. borrowed $320,000 cash from Central Bank by issuing a five-year, 5 percent note. The principal and Interest are to be paid by making annual payments in the amount of $73,912. Payments are to be made December 31 of each year, beginning December 31, Year 1, Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) eBook Hint Print Year BEATIE CO Amortization Schedule $320,000, 5-Yr. Torm Note, 5% Interest Rate Prin Bal. Cash Pay Applied to Applied to on Jan. 1 Dec. 31 Interest Principal $ 320,000 $ 73,912 73,912 73,912 Prin. Bal. End of Period References Year 1 Year 2 Year 3 Year 4 Year 5 73,912 73,9121 Mc Grow Hill Prey 1 of 4 !!! Next >