Question: https/ l PeopleSoft Help Save& M10-18 (Supplement 10D) Interpreting an Amortization Schedule [LO 10-54] The following amortization schedule indicates the interest and principal that Chip's

https/ l PeopleSoft Help Save& M10-18 (Supplement 10D) Interpreting an Amortization
Schedule [LO 10-54] The following amortization schedule indicates the interest and principal

https/ l PeopleSoft Help Save& M10-18 (Supplement 10D) Interpreting an Amortization Schedule [LO 10-54] The following amortization schedule indicates the interest and principal that Chip's Cookie Corporation CCC must repay installment note established January 1, 2018 CCC has a December 31 year-end and makes the required annual payments Repaid Principal on Note Payable 8,229 8,723 9,246 9,802 36,800 Beginning Note Interest Payable 36,000 27,771 19,048 9,802 Ending Note Payable 27,771 19,048 9,882 Year Expense 2,160 1,666 1,143 588 Total 5,557 Use the amortization schedule to determine ( the amount of the (rounded) annual payment, () the amount of interest expe report in the year ended December 31, 2018 (Year 1) ( the note payable balance at January 1. 202t and (d the total interest total nrincinal naid over the note's entire life (Round vour answers to the nearest whole dollar amount. Dackso 8 5 6

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