A partial amortization schedule for a note payable with interest paid annually that was issued on January $1,$ Year $1,$ is shown next:

$\backslash$table$[[\backslash$table$[[$Accounting$],[$Period$]],\backslash$table$[[$Principal$],[$balance$],[$January $1]],\backslash$table$[[$Cash$],[$Payment$]],\backslash$table$[[$Applied to$],[$Interest$]],\backslash$table$[[$Applied to$],[$Principal$]]],[$Year $1,$$$434,000,$$$58,500,$$$17,360,$$$41,140$