Aidan's Inc is looking to replace its old delivery truck, which constantly breaks down it just happens that one of its suppliers has a slightly used delivery truck for sale.Because Aidan's has been doing business with this supplier for many years, the supplier offers Aidan's a great deal.The supplier will sell the truck to Aidan's for 52000 on January 1 2020 and issue a 5 year installment note payable at 5% interest.Installment payement of 5941 are made semi annually

It just happens that one of its suppliers has a slightly used delivery truck for sale. Because Aidan's Inc. has been doing business with this supplier for many years, the supplier offers Aidan's a great deal. The supplier will sell the truck to Aidan's for $52,000 on January 1, 2020, and issue a 5 year instaliment note payable at 5% interest Installment payments of $5,941 are made semi-annually Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole dollar Prepare a table to calculate the total interest paid over the life of the note. Note: Due to rounding, make the reduction of the principal in the last payment equal to the remaining principal balance. This will ensure the ending principal balance is $0. Date Cash Payment Interest Expense Reduction of Principal Principal Balance Jun 30, 2020 5941 1485 X Jan 1 2021 5941 1821 Jun 30, 2021 5941 1638 Jan 1 2022 5941 1451 X Jun 30, 2022 5941 1259 Jan 1 2023 5941 1062 Jun 30, 2023 5941 860 Jan 1 2024 5941 653 Jun 30, 20245941 440 Dec 31,20245941 223