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Exercise 10-2A (Algo) Amortization schedule for an installment note LO 10-1 On January 1, Year 1, Beatie Company borrowed $310,000 cash from Central Bank by issuing a five-year, 7 percent note. The principal and interest are to be paid by making annual payments in the amount of $75,606. 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.) Exercise 10-2A (Algo) Amortization schedule for an installment note LO 10-1 On January 1, Year 1, 8eatie Company borrowed $310,000 cash from Central Bank by issuing a five-year, 7 percent note. The principal and interest are to be paid by making annual payments in the amount of $75,606. 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.)