there are two different entries

1. Enter cell references and formulas where indicated in the Amortization Schedule. 2. Drag Row 14 down to complete rows 15-23. 4 3. Verify your principal balance is $0 and the end of year 10. Journal Entry Instructions. 4. Prepare the 12/31/26 entry to record the payment in the journal below the schedule. Enter account titles and cell references where indicated. 9 10 5. Print the spreadsheet. 11 6. Change the amount borrowed to $60,000 and the annual interest rate to 7%. 12 7. Print the revised spreadsheet. 13 8. Convert to formulas and print again. 14 Loan Amortization Schedule 727 16 payment date payment interest portion 17 0 1 12/31/23 absolute cell reference formula with absolute cell reference 19 2 12/31/24 20 3 12/31/25 21 4 12/31/26 22 5 12/31/27 23 6 12/31/28 24 7 12/31/29 25 8 12/31/30 26 9 12/31/31 27 10 12/31/32 29 Account 30 12/31/26 Enter Account Title Enter Account Title 31 32 33 34 35 Date Enter Account Title Annual Interest Rate #payments per year Loan Term in years Total # payments Total Annual Payment principal portion formula Debit cell reference cell reference principal balance cell reference formula Credit cell reference 6% 1 10 formula formula Drag this row down to fill in the remaining blank cells