Exercise 10-2A Amortization schedule for an installment note LO 10-1

On January 1, 2016, Beatie Co. borrowed $200,000 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 $47,479. Payments are to be made December 31 of each year, beginning December 31, 2016.

Required

Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.)

Exercise 10-2A Amortization schedule for an installment note LO 10-1 On January 1, 2016, Beatie Co. borrowed $200,000 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 $47,479. Payments are to be made December 31 of each yearbeginning December 31, 2016. 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 CO . Amortization Schedule $200,000, 5-YrTerm Note, 6% Interest Rate year Prin. Bal. on Jan. 1 Cash Pay. Dec. 31 Applied to Interest Applied to Principal Prin. Bal. End of Period 2016........sssssss 2018 2019 2020 4