Question: Exercise 10-2A (Algo) Amortization schedule for an installment note LO 101 On January 1, Year 1, Bealle Company borrowed $320,000 cash from Central Bank by

Exercise 10-2A (Algo) Amortization schedule for an installment note LO 101 On January 1, Year 1, Bealle Company borrowed $320,000 cash from Central Bank by issuing a five-yeat, 5 percent note. The prindpal and interest are to be pald 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 amortizatlon schedule for the interest and principal payments for the five-year period. Note: Round your answers to the nearest dollar amount
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