On January 1, $43,000 cash is borrowed from a bank in return for a 12% installment...

Transcribed Image Text:

On January 1, $43,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,428 each. (1) Prepare an amortization table for the first three months of this installment note (2) Record the entry for issuance of the note. (3) Record the entry for the first interest payment and for the second interest payment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an amortization table for the first three months of this installment note. Note: Round your answers to the nearest whole dollar. Payments Period Ending (A) Beginning (B) Debit Interest (C) Debit Notes Date Expense Balance Payable January 31 February 28 March 311 Rejubod (D) Credit Cashi Required 2 > (E) Ending Balance On January 1, $43,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,428 each. (1) Prepare an amortization table for the first three months of this installment note. (2) Record the entry for issuance of the note. (3) Record the entry for the first interest payment and for the second interest payment Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record the entry for issuance of the note. View transaction list Journal entry worksheet Record the entry for issuance of the note. Note: Enter debits before credits Date January 01 Record entry General Journal Clear entry Debit Credit View general journal 4 Required 1 Required 2 Required 3 Record the entry for the first interest payment and for the second interest payment. Note: Round your answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 Record the first installment payment. Note: Enter debits before credits. Date January 31 Record entry General Journal Clear entry < Required 2 Debit Credit View general journal Required 3 On January 1, $43,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,428 each. (1) Prepare an amortization table for the first three months of this installment note (2) Record the entry for issuance of the note. (3) Record the entry for the first interest payment and for the second interest payment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an amortization table for the first three months of this installment note. Note: Round your answers to the nearest whole dollar. Payments Period Ending (A) Beginning (B) Debit Interest (C) Debit Notes Date Expense Balance Payable January 31 February 28 March 311 Rejubod (D) Credit Cashi Required 2 > (E) Ending Balance On January 1, $43,000 cash is borrowed from a bank in return for a 12% installment note with 36 monthly payments of $1,428 each. (1) Prepare an amortization table for the first three months of this installment note. (2) Record the entry for issuance of the note. (3) Record the entry for the first interest payment and for the second interest payment Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record the entry for issuance of the note. View transaction list Journal entry worksheet Record the entry for issuance of the note. Note: Enter debits before credits Date January 01 Record entry General Journal Clear entry Debit Credit View general journal 4 Required 1 Required 2 Required 3 Record the entry for the first interest payment and for the second interest payment. Note: Round your answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 Record the first installment payment. Note: Enter debits before credits. Date January 31 Record entry General Journal Clear entry < Required 2 Debit Credit View general journal Required 3