Check my work 2 Exercise 10-2A (Algo) Amortization schedule for an installment note LO 10-1 Book ences On January 1, Year 1, Beatie Company borrowed $300,000 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 $71,219. 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.) BEATIE COMPANY Amortization Schedule. $300,000, 5-Year Term Note, 6% Interest Rate Year Principal Balance Cash Payments December 31 on January 1 Year 1 Year 2 Year 31 Year 4 Year 5 Applied to Interest Applied to Principal Principal Balance End of Period