Salish Software Loan / Interest Calculation 3e - 2020 Loan Calculator Amortization Table 1 Enter Values Loan Summary 150 $3,500 5.00% Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Lender Name: Your Company Scheduled Payments Scheduled Number of Payments Actual Number of Payments Total Early Payments Total Interest S Interest - How much of the payment is interest Pmt Principal - How much of the payment is principal? No. Note Payable Beginning Scheduled Balance Payments $3,500.00 $ 150.00 $ 150.00 $ 150.00 Payment Date 2/3/2020 3/4/2020 4/3/2020 1 Total Payment $ 150.00 $ 150.00 $ 150.00 Note Payable Ending Balance $ 3,500.00 Interest from Jan 2020 $ Interest from Feb 2020 $ Interest from mar 2020 2 3 January 2020 Entry 1. Accrue Interest - Chapter 5 1/31/2020 Journal Entry: January - to accrue Interest DR: Interest Calculation - January Principal Balance 1/31/20 Annual Interest Rate Time Yearly Interest Monthly Interest CR: February 2020 Entries 1. Make payment of January Interest - Chapter 7 2/3/2020 Check Salish Software Loan / Interest Calculation 3e - 2020 DR: DR: CR: Salish Software Loan / Interest Calculation 3e - 2020 Loan Calculator Amortization Table 1 Enter Values Loan Summary 150 $3,500 5.00% Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Lender Name: Your Company Scheduled Payments Scheduled Number of Payments Actual Number of Payments Total Early Payments Total Interest S Interest - How much of the payment is interest Pmt Principal - How much of the payment is principal? No. Note Payable Beginning Scheduled Balance Payments $3,500.00 $ 150.00 $ 150.00 $ 150.00 Payment Date 2/3/2020 3/4/2020 4/3/2020 1 Total Payment $ 150.00 $ 150.00 $ 150.00 Note Payable Ending Balance $ 3,500.00 Interest from Jan 2020 $ Interest from Feb 2020 $ Interest from mar 2020 2 3 January 2020 Entry 1. Accrue Interest - Chapter 5 1/31/2020 Journal Entry: January - to accrue Interest DR: Interest Calculation - January Principal Balance 1/31/20 Annual Interest Rate Time Yearly Interest Monthly Interest CR: February 2020 Entries 1. Make payment of January Interest - Chapter 7 2/3/2020 Check Salish Software Loan / Interest Calculation 3e - 2020 DR: DR: CR