Chapter 10 Assignment 2 10 points Skipped eBook Hint Mc Graw Hill Saved Exercise 10-2A (Algo) Amortization schedule for an installment note LO 10-1 On January 1, Year 1, Beatie Company borrowed $250,000 cash from Central Bank by issuing a five-year, 6 percent note. The principal and interest are to be paid by making annual payments in the amount of $59,349. 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. Note: Round your answers to the nearest dollar amount. BEATIE COMPANY Amortization Schedule Year Principal Balance on Cash Payments Applied to Interest January 1 Applied to Principal December 31 Principal Balance End of Period Year 1 Year 2 Year 3 Year 4 Year 5 72 37 MAY 4 tv < Prev 2 of 10 N Next > A 3 X W Help Save & Exit Submit Check my work