Question: Required information Problem 9-2A (Static) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below] On January 1,
Required information Problem 9-2A (Static) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below] On January 1, 2024, Strato Corporation borrowed $2 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $776.067 on December 31 of each year. The payments include interest at a rate of 8% Problem 9-2A (Static) Part 2 2. Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the nearest dollar amount. Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000.))
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