On January 1, 2021, Eagle Company borrows $21,000 cash by signing a four-year, 5% installment note....

 

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On January 1, 2021, Eagle Company borrows $21,000 cash by signing a four-year, 5% installment note. The note requires four equal payments of $5,922, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Prepare an amortization table for this installment note. Note: Round all amounts to the nearest whole dollar. tes Date Period Ending (A) Beginning Balance 2021 2022 2023 2024 Total Payments (C) Debit Notes Payable (D) Credit Cash (E) Ending Balance (B) Debit Interest Expense On January 1, 2021, Eagle Company borrows $21,000 cash by signing a four-year, 5% installment note. The note requires four equal payments of $5,922, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024. Prepare an amortization table for this installment note. Note: Round all amounts to the nearest whole dollar. tes Date Period Ending (A) Beginning Balance 2021 2022 2023 2024 Total Payments (C) Debit Notes Payable (D) Credit Cash (E) Ending Balance (B) Debit Interest Expense