Question: The assignment is to create two amortization tables for notes receivable. You are to submit an excel spreadsheet. The assignment is as follows: Pick

The assignment is to create two amortization tables for notes receivable. You

The assignment is to create two amortization tables for notes receivable. You are to submit an excel spreadsheet. The assignment is as follows: Pick a principle amount greater than $400,000 but less than $1,200,000 in $25,000 increments. Pick an annual stated rate between 5% and 12%, whole numbers only. Pick an annual market rate between 5% and 12%, whole numbers only. Pick an annual term in years of at least 5 years but no more than 12 years. Build an amortization table in the case of a DISCOUNT on the note. o Build an amortization table in the case of a PREMIUM on the note. Show ALL journal entries over the life of the note.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!