Question: On January 1, 2018, Belden, Inc. issued long-term notes payable for $50,000. The note will be paid over 10 years with payments of $5,000

On January 1, 2018, Belden, Inc. issued long-term notes payable for $50,000.

On January 1, 2018, Belden, Inc. issued long-term notes payable for $50,000. The note will be paid over 10 years with payments of $5,000 plus 12% interest due each January 1, beginning January 1, 2019. Prepare the amortization schedule for the first three payments.

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